Levi & Korsinsky Notifies Investors with Losses on Their Investment in Acxiom Corp. of Class Action Lawsuit & the June 27, 20...
May 19 2011 - 6:49PM
Business Wire
Levi & Korsinsky 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 Acxiom Corporation
(“Acxiom” or the “Company”) (Nasdaq: ACXM) who purchased between
October 27, 2010 and March 30, 2011 (the “Class Period”).
The complaint alleges that during the Class Period, defendants
violated federal securities laws by issuing materially false and
misleading statements in public filings with the Securities and
Exchange Commission and in its press releases. In particular, the
complaint alleges that Acxiom (a) experienced a significant decline
in its international operations and was not operating according to
plan; (b) the Company failed to properly account for impaired
assets related to international operations; (c) and as a result of
the foregoing, the defendants’ statements concerning the Company’s
financial performance were false and misleading.
On March 30, 2011, Acxiom announced that the company’s CEO and
President John Meyer, resigned two days earlier, and that CFO Chris
Wolfe intended to resign within the following two weeks.
Furthermore, the Company forecasted a weak fiscal fourth quarter,
with adjusted earnings projected well below original analyst
forecasts. Following this news, Acxiom’s stock fell more than
22%.
If you are a member of the class and suffered a loss in Acxiom
stock, you have until June 27, 2011 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery is not affected by the decision whether or not to serve as
a lead plaintiff. To obtain additional information about your
rights, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (877) 363-5972, or visit
http://www.zlk.com/acxiom-acxm.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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