Cases
comScore, Inc. (SCOR)
Securities Class Action
Overview
Overview
- Date:
- 11/29/2016
- Company Name:
- comScore, Inc.
- Stock Symbol:
- SCOR
- Status:
- Closed/Complete
NEW YORK, November 29, 2016 – Bragar Eagel & Squire, P.C. is investigating potential claims against comScore, Inc. (NASDAQ: SCOR) concerning possible violations of the federal securities laws.
On March 7, 2016, the Company filed an amendment to a Notice of Late Filing previously filed on February 29, 2016, regarding its upcoming Form 10-K filing. The amendment disclosed that on March 5, 2016, the Company’s Audit Committee, along with independent counsel and forensic accountants, was conducting a review of the Company's financial results. The Company also announced that it would not file its Form 10-K until after the Audit Committee completed its review. Later that day, the Company published a press release stating that it would suspend the previously announced share repurchase program in light of the current review. Following this news, comScore shares declined $13.67 on March 7, 2016.
On November 23, 2016, post-market, comScore announced the resignations of the Company Board’s Chairman and Nominating and Governance Committee’s Chair on November 17, 2016. comScore also released the results of its internal investigation regarding “matters related to the Company’s revenue recognition practices, disclosures, internal controls, corporate culture, and certain employment practices.” comScore's Audit Committee decided that “the Company cannot support the prior accounting for the nonmonetary transactions recorded by the Company during the years ended December 31, 2013, 2014 and 2015, and accordingly, revenue and expenses associated with all nonmonetary transactions during these periods is being reversed and accounted for at historical cost rather than at fair value.” The Audit Committee also revealed concerns about its internal controls. comScore told shareholders that “there may be additional accounting adjustments and such adjustments may be material.” Following this news, comScore shares declined $1.56 on November 23, 2016.
If you purchased comScore securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On March 7, 2016, the Company filed an amendment to a Notice of Late Filing previously filed on February 29, 2016, regarding its upcoming Form 10-K filing. The amendment disclosed that on March 5, 2016, the Company’s Audit Committee, along with independent counsel and forensic accountants, was conducting a review of the Company's financial results. The Company also announced that it would not file its Form 10-K until after the Audit Committee completed its review. Later that day, the Company published a press release stating that it would suspend the previously announced share repurchase program in light of the current review. Following this news, comScore shares declined $13.67 on March 7, 2016.
On November 23, 2016, post-market, comScore announced the resignations of the Company Board’s Chairman and Nominating and Governance Committee’s Chair on November 17, 2016. comScore also released the results of its internal investigation regarding “matters related to the Company’s revenue recognition practices, disclosures, internal controls, corporate culture, and certain employment practices.” comScore's Audit Committee decided that “the Company cannot support the prior accounting for the nonmonetary transactions recorded by the Company during the years ended December 31, 2013, 2014 and 2015, and accordingly, revenue and expenses associated with all nonmonetary transactions during these periods is being reversed and accounted for at historical cost rather than at fair value.” The Audit Committee also revealed concerns about its internal controls. comScore told shareholders that “there may be additional accounting adjustments and such adjustments may be material.” Following this news, comScore shares declined $1.56 on November 23, 2016.
If you purchased comScore securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.