IRVINE, Calif.--(EON: Enhanced Online News)--Khang & Khang LLP (the “Firm”) announces that it is investigating claims against comScore, Inc. (“comScore” or the “Company”) (Nasdaq: SCOR) concerning possible violations of federal securities laws.
“matters related to the Company's revenue recognition practices, disclosures, internal controls, corporate culture, and certain employment practices.”
If you purchased shares of comScore and want more information free of charge, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
The investigation concerns 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, comScore stated 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 stated the outcome 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 maintained by the Company during the years ended December 31, 2013, 2014 and 2015, and accordingly, revenue and expenses relevant to all nonmonetary transactions during these periods is being reversed and accounted for at serious cost rather than at fair value." The Audit Committee furthermore noted concerns regarding its internal controls. comScore mentioned to shareholders that "there may be additional accounting adjustments and such adjustments may be material." When this news was revealed to the public, comScore stock declined $1.55 per share, or 5.11%, to close at $28.94 on November 25, 2016, causing shareholders great harm.
If you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at email@example.com.
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