Bronstein, Gewirtz & Grossman, LLC Announces Class Action Lawsuit Against Acxiom Corporation
April 28 2011 - 2:20PM
Marketwired
Bronstein, Gewirtz & Grossman, LLC announces that a class
action has been filed in the United States District Court for the
District of Arkansas on behalf of those who purchased or otherwise
acquired stock of Acxiom Corporation. ("Acxiom" or the "Company")
(NASDAQ: ACXM) during the period between October 27, 2010 through
and including March 30, 2011 (the "Class Period").
The complaint charges Acxiom and certain of its officers and
directors violated federal securities laws. Specifically the
complaint alleges: (i) that the Company was experiencing a
significant decline in its international operations; (ii) that the
Company failed to properly and timely account for impaired assets
related to its international operations; and (iii) that, as a
result, defendants' statements regarding Acxiom's financial
performance and expected earnings were misleading.
The Company announced on March 30, 2011 that its CEO and
President had resigned and that its CFO would step down in the
second quarter of 2011. Additionally, Acxiom forecasted a weak
fiscal fourth quarter of $0.18 - $0.22 per share and revenue
between $295 million and 299 million compared to analysts forecasts
of adjusted earnings of $0.24 per share and 303 million in revenue.
On this news, shares of the Company fell over 22% to close at
around $13.50 a share.
No Class has yet been certified in the above action. If you wish
to review a copy of the Complaint, to discuss this action, or have
any questions, please contact either Peretz Bronstein or Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484
or via email eitan@bgandg.com. Those who inquire by e-mail are
encouraged to include their mailing address and telephone number.
June 27, 2011 is the deadline for investors to seek a lead
plaintiff appointment.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate work, private securities offerings, and securities
arbitration.
Peretz Bronstein or Eitan Kimelman Bronstein, Gewirtz &
Grossman, LLC 212-697-6484 Email Contact
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