World News: 00:19 GMT Tuesday 16th April 2019. [Faruqi & Faruqi LLP via Globe Newswire via SPi World News]
NEW YORK, April 15, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in comScore, Inc. (“comScore” or the “Company”) (NASDAQ:SCOR) of the June 10, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased comScore securities between November 8, 2018 and March 29, 2019 (the “Class Period”). The case, No. 19-cv-03210 was filed on April 10, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that the Company was experiencing difficulties implementing its business strategy; (2) that, as a result, the Company’s financial results would be materially impacted; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On March 31, 2019, the company announced the resignations of its Chief Executive Officer, Bryan Wiener, and President, Sarah Hofstetter, both of whom had been appointed to their positions less than one year ago. The company also stated that it expects first quarter 2019 revenue to be between $100 million and $104 million, but analysts had estimated approximately $106 million in revenue.
On this news, the Company's stock price fell from $20.25 per share on March 29, 2019 to $14.24 per share on April 1, 2019—a $6.01 or 29.68% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding comScore’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Globe Newswire: 00:19 GMT Tuesday 16th April 2019
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