| Company: | Acxiom Corporation |
| Ticker Symbol: | ACXM |
| Class Period: | Oct-27-10 to Mar-30-11 |
| Date Filed: | Apr-27-11 |
| Lead Plaintiff Deadline: | Jun-26-11 |
| Court: | District of Arkansas |
| Allegations: | |
The Complaint charges Acxiom and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) that Acxiom was experiencing a significant decline in its international operations; (ii) that Acxiom failed to properly and timely account for impaired assets related to its international operations; and (iii) that, as a result, defendants' statements regarding the Company's financial performance and expected earnings were misleading.
On March 30, 2011, Acxiom announced that its CEO and President had resigned effective March 28, 2011, and that its CFO would also step down in the second quarter. Additionally, Acxiom forecasted adjusted fourth quarter earnings of $0.18-$0.22 per share and revenue between $295-$299 million, compared to analyst forecasts of adjusted earnings of $0.24 per share and $303 million in revenue. Acxiom further announced a non-cash impairment charge in the fourth quarter of 2011 in connection with a write-down of goodwill and assets associated with international operations. On this news, Acxiom fell 22.7%, to close at $13.50 per share.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
