SOURCE: Hagens Berman Sobol Shapiro LLP

Hagens Berman Sobol Shapiro LLP

April 28, 2016 08:30 ET

Hagens Berman Reminds comScore, Inc. (NASDAQ: SCOR) Investors of May 9, 2016 Lead Plaintiff Deadline in Improper Accounting Securities Class Action

SAN FRANCISCO, CA--(Marketwired - April 28, 2016) -  Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds comScore, Inc. (NASDAQ: SCOR) investors of the May 9, 2016 lead plaintiff deadline in the securities class action lawsuit related to alleged misstatements and failures to disclose that comScore's accounting practices did not comply with applicable SEC regulations and its internal controls were inadequate.

If you suffered significant losses because of your purchases of comScore securities between May 5, 2015 and March 7, 2016, or have information that will help our continuing investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation by calling 510-725-3000, emailing SCOR@hbsslaw.com or visiting https://www.hbsslaw.com/cases/SCOR. The lawsuit was filed in the U.S. District Court for the Southern District of New York and investors have until May 9, 2016 to move the court to participate as a lead plaintiff.

On February 29, 2016, comScore disclosed it would not timely file its 2015 Form 10-K, elaborating "the Audit Committee of the Company's Board of Directors…received a message regarding certain potential accounting matters" and, in response "the Audit Committee immediately commenced a review of the matters with the assistance of independent counsel and advisors." On this news, comScore's stock fell $1.15 per share, or 2.8% to close at $40.00 on March 1, 2016.

On March 7, 2016, comScore disclosed it would not file its 2015 Form 10-K before March 15, 2016 because the Board's Audit Committee did not expect to finalize review of potential accounting issues. In addition, the Company disclosed it was suspending its previously announced share repurchase program. On the announcement of this news, comScore stock fell $13.67 per share, or 33.5%, to close at $27.04 per share on March 7, 2016.

"GAAP-compliant financial reporting is critical to all investors. comScore's apparent dereliction in that regard has inflicted substantial damage on its shareholders," said Hagens Berman partner Reed Kathrein. "comScore's apparent dereliction in that regard has inflicted substantial damage on its shareholders."

Whistleblowers: Persons with non-public information regarding comScore should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SCOR@hbsslaw.com.

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Contact Information

  • Contact:
    Reed Kathrein
    510-725-3000