Cablevision Systems Corporation ("Cablevision" or the Company) is an American cable television company serving areas around New York City.

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.