[ACCESSWIRE]
SAN DIEGO, CA / ACCESSWIRE / February 13, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending on behalf of certain purchasers of shares of ComScore, Inc. (NASDAQ: SCOR) over alleged Securities Laws Violations by ComScore.
Investors who purchased shares of ComScore, Inc. (NASDAQ: SCOR) in 2014 and currently hold any of those NASDAQ: SCOR shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The lawsuit was initially filed in March 2016. The plaintiff claims that the defendants made certain allegedly false and/or misleading statements and/or allegedly failed to disclose that the Company's accounting practices were not in compliance with applicable SEC regulations, that the Company lacked adequate internal controls over accounting, that, as such, the Company would be unable to file its Form 10-K for the fiscal year ended December 31, 2015 in a timely manner, and that, as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about ComScore's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. In October 2016 an amended complaint was filed.
On November 23, 2016, ComScore, Inc announced the resignations of the Chairman of the Company's Board and the Chair of the Board's Nominating and Governance Committee on November 17, 2016. ComScore, Inc also announced the results of an internal investigation concerning "matters related to the Company's revenue recognition practices, disclosures, internal controls, corporate culture, and certain employment practices." ComScore's Audit Committee, with external counsel and forensic accountants, concluded that "the Company cannot support the prior accounting for the nonmonetary transactions recorded by the Company during the years ended December 31, 2013, 2014 and 2015, and accordingly, revenue and expenses associated with all nonmonetary transactions during these periods is being reversed and accounted for at historical cost rather than at fair value." Among other issues, the Audit Committee's investigation also identified concerns regarding internal control deficiencies. ComScore, Inc advised investors that "there may be additional accounting adjustments and such adjustments may be material."
On February 6, 2017 ComScore, Inc. provided an update on its NASDAQ listing and announced that it anticipated delisting from the NASDAQ effective February 8, 2017. Shares of ComScore, Inc. (NASDAQ: SCOR) declined on February 7, 2017 to as low as $20.81 per share.
Those who purchased shares of ComScore, Inc. (NASDAQ: SCOR) in 2014 and currently hold any of those NASDAQ: SCOR shares should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
