Robbins Umeda LLP Announces an Investigation of Acxiom Corporation for Shareholders
27 April 2011 - 9:23AM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, has
commenced an investigation into possible breaches of fiduciary duty
and other violations of the law by certain officers and directors
at Acxiom Corporation (NASDAQGS: ACXM). Acxiom provides marketing
services and technology that enable marketers to manage audiences,
personalize consumer experiences, and create customer
relationships. Acxiom was founded in 1969, and is headquartered in
Little Rock, Arkansas.
If you own stock in Acxiom and would like more information about
your shareholder rights, please contact attorney Gregory E. Del
Gaizo at 800-350-6003 or via the shareholder information form on
our website.
Robbins Umeda LLP's investigation focuses on whether the
officers and directors of Acxiom harmed the company by issuing
false and misleading statements in press releases, analyst
conference calls, and filings with the U.S. Securities and Exchange
Commission.
Between October 27, 2010 and February 4, 2011, officers and
directors of Acxiom issued press releases, hosted conference calls,
and filed documents reflecting positive financial results for the
second, third, and fourth quarters of its 2011 fiscal year. Then,
on March 30, 2011, Acxiom announced that its Chief Executive
Officer and President John A. Meyer had resigned, and that its
Chief Financial Officer Christopher W. Wolf would step down in the
second calendar quarter of 2011. Further, Acxiom announced a weak
fiscal fourth quarter compared to analyst forecasts. The company
also announced that it "expects to record a non-cash impairment
charge in the fourth quarter of fiscal 2011 in connection with a
write-down of the carrying value of goodwill and other long-lived
assets associated with its international operations." On this news,
on March 30, 2011, the value of Acxiom's common stock dropped 22.7%
from $17.46 to close at $13.50.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
Firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. Robbins Umeda LLP has
helped its clients realize more than $1 billion of value for
themselves and the companies in which they have invested. For more
information, please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/acxiom-corporation/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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