SOURCE: Brower Piven, A Professional Corporation

May 17, 2011 18:43 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $300,000 From Investment in Acxiom Corp. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the June 27, 2011 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - May 17, 2011) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Arkansas on behalf of purchasers of the common stock of Acxiom Corp. ("ACXM" or the "Company") (NASDAQ: ACXM) during the period between October 27, 2010 and March 30, 2011, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than June 27, 2011 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company was experiencing a significant decline in its international operations and was not operating according to plan and failed to properly and timely account for impaired assets related to its international operations. According to the complaint, after, on March 30, 2011, ACXM announced that its Chief Executive Officer and President, John A. Meyer, had resigned effective March 28, 2011, that its Chief Financial Officer, Christopher W. Wolf, would also step down in the second quarter of calendar 2011, a weak forecasted fiscal fourth quarter compared to analyst forecasts of adjusted earnings of $0.24 per share and $303 million in revenue, and that it "expects to record a non-cash impairment charge in the fourth quarter of fiscal 2011 in connection with a write-down of the carrying value of goodwill and other long-lived assets associated with its international operations," the value of ACXM stock declined significantly.

If you have suffered a net loss for all transactions in Acxiom Corp. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact