Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against comScore, Inc. (SCOR)

Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against comScore, Inc. (SCOR)

NEW YORK, April 11, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against comScore, Inc. (“comScore” or the “Company”) (NASDAQ: SCOR) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of comScore between November 8, 2018 and March 29, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

The Complaint alleges that Defendants failed to disclose to investors: (1) that the Company was experiencing difficulties implementing its business strategy; (2) that, as a result, the Company’s financial results would be materially impacted; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 31, 2019, the Company announced the resignations of its Chief Executive Officer, Bryan Wiener, and President, Sarah Hofstetter, both of whom had been appointed to their positions less than one year ago. The Company also stated that it expects first quarter 2019 revenue to be between $100 million and $104 million, but analysts had estimated approximately $106 million in revenue.  On this news, the Company’s share price fell $6.01 per share, or nearly 30%, to close at $14.24 per share on April 1, 2019, thereby injuring investors.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the June 10, 2019 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.