Bernstein Liebhard LLP Investigating Acxiom Corporation
March 30 2011 - 5:13PM
Business Wire
Bernstein Liebhard LLP is investigating whether wrongdoing
occurred at Acxiom Corporation (“Acxiom” or the “Company”) (NASDAQ:
ACXM), including whether the Company made false statements to the
investing public.
On Wednesday, March 30, 2011, Acxiom announced the resignation
of its president and CEO John Meyer. Acxiom said in a statement
that Meyer’s resignation was effective Monday March 28, 2011 and
gave no reason for his departure. The Company also stated that its
CFO plans to step down soon.
The Company also forecast a weak fiscal fourth quarter, stating
that it expected to report adjusted earnings of 18 to 22 cents per
share for the three months ended March 31, 2011.
In addition, Acxiom also stated it expects an impairment charge
of $50 million to $90 million in the fiscal fourth quarter. The
Company stated that it is writing down the goodwill and assets of
its international operations because those businesses are not
performing well.
After these adverse announcements, Acxiom stock fell $4.37, or
25 percent, to $13.09 in morning trading.
If you are interested in discussing your rights as an Acxiom
shareholder and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at (877) 779-1414 or
seidman@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer
cases and recovered almost $3 billion for its clients. It has been
named to The National Law Journal’s “Plaintiffs’ Hot List” in each
of the last eight years.
Bernstein Liebhard LLP10 East 40th StreetNew York, New York
10016(877) 779-1414www.bernlieb.com
ATTORNEY ADVERTISING. © 2011 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New York 10016, (212) 779-1414.
Prior results do not guarantee or predict a similar outcome with
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