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PHILADELPHIA, March 10, 2016 -- Barrack Rodos & Bacine is investigating potential federal securities law claims on behalf of former shareholders of Rentrak Corp. (“RENT”) who received shares of comScore, Inc. (“SCOR”) stock in connection with the acquisition of Rentrak by comScore that was completed on February 1, 2016. Rentrak shareholders received 1.15 shares of comScore stock for each share of Rentrak stock they owned. The Firm is also investigating claims on behalf of persons who purchased comScore shares since January 1, 2014, and who have suffered losses on their investment.
On March 7, 2016, before the market opened, comScore 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.
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.
Holders of Rentrak stock who acquired comScore stock in the February 1, 2016 merger, or investors who purchased comScore stock on the open market since January 1, 2014, and who suffered losses of $50,000 or more, are encouraged to contact Jeff Golan, Chad Carder 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] or [email protected]. This alert may be considered attorney advertising.
