Case Page

 

Case Status:    DISMISSED    
On or around 09/23/2002 (Other)

Filing Date: September 20, 1999

According to the latest docket, on March 30, 2001, the Court entered the Order by U.S. District Judge James M. Moody granting the motion to dismiss and the case was terminated. The plaintiffs soon after filed a Notice of appeal, and on September 23, 2002, the Court entered the Mandate from the Eighth Circuit Court of Appeals affirming the decision of the District Court.

The original complaint charges Acxiom and certain of its officers and directors with violations of the Securities Act of 1933. The complaint alleges that on July 23, 1999, Acxiom completed a secondary offering of stock pursuant to a Registration Statement/Prospectus that was false and misleading in that it contained false financial results and failed to describe the significance of Acxiom's recent contract renewal with its largest customer, Allstate. On August 29, 1999, Acxiom announced it was reducing its work force by 5% and laying off 250 employees. Then, on August 30, 1999, it was revealed that Acxiom was disseminating false financial results, was suffering from stiff competition and was lowering prices which would have a very negative impact on future earnings. Acxiom's stock price reacted swiftly and negatively to these revelations, falling to as low as $17-11/16 on huge volume of 5 million shares, nearly $11 below the offering price just six weeks earlier.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ACXM
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Arkansas
DOCKET #: 99-CV-00673
JUDGE: Hon. James M. Moody
DATE FILED: 09/20/1999
CLASS PERIOD START: 07/23/1999
CLASS PERIOD END: 08/30/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  2. Law Offices of Steven E. Cauley, P.A. (Little Rock)
    2200 Rodney Parham Road Suite 218, Law Offices of Steven E. Cauley, P.A. (Little Rock), AR 72212
    501.312.8500 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
COURT: E.D. Arkansas
DOCKET #: 99-CV-00673
JUDGE: Hon. James M. Moody
DATE FILED: 04/17/2000
CLASS PERIOD START: 07/23/1999
CLASS PERIOD END: 08/30/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley & Geller (Boca Raton)
    2255 Glades Road, #421A, Cauley & Geller (Boca Raton), FL 33431
    561.750.3000 ·
  2. Cauley Geller Bowman & Coates LLP
    11311 Arcade Drive - Suite 201, Cauley Geller Bowman & Coates LLP, AR 72212
    501.312.8500 ·
  3. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date