Case Page

 

Case Status:    DISMISSED    
On or around 09/06/2013 (Date of order of final judgment)

Filing Date: January 26, 2012

According to a press released dated January 25, 2012, the complaint charges the Company and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that the Company was experiencing higher retention and advertising costs; (ii) that it was losing more video customers than expected, especially in the New York area – the Company’s main service area – due to increased competition; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On October 28, 2011, the Company announced its financial results for the third quarter of 2011, the period ended September 30, 2011. On that same day, the Company held a conference call with analysts and investors to discuss the earnings announcement and the Company’s operations, including the Company’s subscriber loss. In reaction to the Company’s announcement, the price of Cablevision stock fell $2.17 per share, or 13%, to close at $15.14 per share, on extremely heavy trading volume.

On April 26, 2012, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel. On June 29, 2012, plaintiffs filed their amended complaint.

On September 5, 2013, the Court issued an Order granting the Defendants' motion to dismiss with prejudice.

COMPANY INFORMATION:

Sector: Services
Industry: Broadcasting & Cable TV
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CVC
Company Market: New York SE
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. New York
DOCKET #: 12-CV-00377
JUDGE: Hon.Kiyo A. Matsumoto
DATE FILED: 01/26/2012
CLASS PERIOD START: 02/16/2011
CLASS PERIOD END: 10/28/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Berens LLP
    303 East 17th Avenue, Suite 300, Dyer & Berens LLP, CO 80203
    303.861.1764 303.861.1764 ·
  2. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  3. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
COURT: E.D. New York
DOCKET #: 12-CV-00377
JUDGE: Hon.Kiyo A. Matsumoto
DATE FILED: 06/29/2012
CLASS PERIOD START: 02/16/2011
CLASS PERIOD END: 10/28/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  2. Sullivan, Ward, Asher & Patton, P.C.
    25800 Northwestern Highway, 1000 Maccabees Center, Sullivan, Ward, Asher & Patton, P.C., MI 48075-1000
    248.746.0700 248.746.0700 ·
No Document Title Filing Date