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PHILADELPHIA, March 23, 2016 -- Barrack, Rodos & Bacine announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired stock of comScore, Inc. (NASDAQ:SCOR) (“comScore” or the “Company”) between and including May 5, 2015 and March 7, 2016 (the “Class Period”). This includes shareholders of Rentrak Corp. (NASDAQ:RENT) (“Rentrak”) who received shares of comScore stock in connection with the acquisition of Rentrak by comScore that was completed on February 1, 2016.
comScore shareholders who purchased or otherwise acquired their securities during the Class Period may, no later than May 9, 2016, petition the Court to be appointed as a lead plaintiff representative of the class.
Holders of Rentrak stock who acquired comScore stock in the February 1, 2016 merger, or investors who purchased comScore stock on the open market during the Class Period, and who suffered losses of $100,000 or more, are encouraged to contact Jeff Golan or Sam Ward of Barrack Rodos & Bacine, at the following toll-free number: 877-386-3304, or via e-mail to [email protected] or [email protected].
On March 7, 2016, before the market opened, comScore – which provides data, metrics, products, and services to clients in the media, advertising, and marketing industries – announced that it is delaying the filing of its annual report, postponing its Investor Day meeting and suspending its share repurchase program. The Company reported that its Audit Committee is investigating “a message [it received] regarding certain accounting matters.”
On February 1, 2016, when comScore acquired Rentrak, comScore stock was trading at $39 per share. After comScore’s announcement of the Audit Committee investigation, the Company’s stock price fell by $13.67, losing more than one-third of its value, to close on March 7, 2016 at $27.04. The stock was also downgraded from outperform to neutral by Macquarie Research.
Philadelphia-based Barrack Rodos & Bacine has more than three decades of experience prosecuting securities law class actions, including cases involving accounting fraud, and has achieved some of the largest recoveries in the history of such litigation. The Firm also has extensive experience representing investors who received stock of another company in a merger, and suffered losses when it was later disclosed that accounting misstatements had been made.
