 | ||
|
| Home Annual/Quarterly Updates About Us
|
Arbitron, Inc. Summary: According to a press release dated April 30, 2008, the complaint charges Arbitron and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company, through its subsidiaries, provides media and marketing information services in the United States and internationally. The Company's Portable People Meter ratings service is purportedly capable of measuring radio, broadcast television, cable television, Internet broadcasts, satellite radio and television audiences, and retail store video and audio broadcasts.
Specifically, the complaint alleges that, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (i) that the Company's scheduled implementation of its Portable People Meter ratings service in certain major markets was not performing according to internal expectations and the Company was experiencing significant difficulties such that it would have to delay its implementation; and (ii) as a result, defendants lacked a reasonable basis for their positive statements about the timing of the implementation of Arbitron’s Portable People Meter ratings service and the Company's prospects and future earnings.
On November 26, 2007, Arbitron announced that "it [would] delay the commercialization of its Portable People Meter (PPM) radio ratings service in nine markets" and that the Company would be revising its financial guidance for 2007 and its outlook for 2008. In response to this announcement, the price of Arbitron common stock declined $7.21 per share, or over 14.74%, to close at $41.70 per share, on unusually high trading volume.
INDUSTRY CLASSIFICATION:
SIC Code: 8700
Sector: Technology
Industry: Computer Services
| COMPANY/ISSUER NAME: | Arbitron, Inc. |
| COMPANY/ISSUER TICKER: | ARB |
| COMPANY WEBSITE: | http://www.arbitron.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Plumbers and Pipefitters Local Union No. 630 Pension-Annuity Trust Fund, et al. v. Arbitron, Inc., et al. | |||||||||||||||||
| |||||||||||||||||
| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint for Violation of Federal Securities Laws - Jury Trial Demanded | |||
| Type: Complaint | Date on the document: 4/30/2008 | ||
| US District Court Civil Docket | |||
| Type: Docket | Date on the document: 4/30/2008 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.
Go to Search page | Go to Case Index page | Back to Top