SOURCE: Izard Nobel LLP

April 27, 2011 18:20 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Acxiom Corporation

WEST HARTFORD, CT--(Marketwire - Apr 27, 2011) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Arkansas on behalf of purchasers of the common stock of Acxiom Corporation ("Acxiom" or the "Company") (NASDAQ: ACXM) between October 27, 2010 and March 30, 2011, inclusive (the "Class Period").

The Complaint charges Acxiom and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) that Acxiom was experiencing a significant decline in its international operations; (ii) that Acxiom failed to properly and timely account for impaired assets related to its international operations; and (iii) that, as a result, defendants' statements regarding the Company's financial performance and expected earnings were misleading.

On March 30, 2011, Acxiom announced that its CEO and President had resigned effective March 28, 2011, and that its CFO would also step down in the second quarter. Additionally, Acxiom forecasted adjusted fourth quarter earnings of $0.18-$0.22 per share and revenue between $295-$299 million, compared to analyst forecasts of adjusted earnings of $0.24 per share and $303 million in revenue. Acxiom further announced a non-cash impairment charge in the fourth quarter of 2011 in connection with a write-down of goodwill and assets associated with international operations. On this news, Acxiom fell 22.7%, to close at $13.50 per share.

If you are a member of the class, you may, no later than June 27, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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