Brower Piven Encourages Investors Who Have Losses in Excess of $300,000 From Investment in Acxiom Corp. to Inquire About the Lea
May 17 2011 - 6:43PM
Marketwired
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: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
Acxiom (NASDAQ:ACXM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Acxiom (NASDAQ:ACXM)
Historical Stock Chart
From Jul 2023 to Jul 2024