LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against comScore, Inc. (“comScore” or the “Company”) (NYSE: SCOR) concerning possible violations of federal securities laws.
To get more information about this investigation, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via email at brian@lundinlawpc.com.
The investigation is centered on whether comScore and some of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 23, 2016, post-market, comScore publicized the resignations of the Chairman of the Company's Board and the Chair of the Board's Nominating and Governance Committee on November 17, 2016. comScore then disclosed the total of its internal investigation about "matters related to the Company's revenue recognition practices, disclosures, internal controls, corporate culture, and certain employment practices." Afterwards, comScore's Audit Committee, working with outside counsel and forensic accountants, determined 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 related to all nonmonetary transactions during these periods is being reversed and accounted for at significant cost rather than at fair value." The Audit Committee furthermore disclosed concerns regarding its internal controls. comScore revealed to shareholders that "there may be additional accounting adjustments and such adjustments may be material." When this news was disclosed to the public, comScore stock dropped $1.55 per share, or 5.11%, to close at $28.94 on November 25, 2016, causing investors serious harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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