comScore Share Price Plunges after Filing Delay

Shares in media measurement and analytics firm comScore fell more than 30% to $21.74 in early trading yesterday, after the firm missed its June 27 deadline for issuing an update on an internal accounting investigation.

In March, the firm disclosed that its Audit Committee had not finalized an ongoing review of 'certain potential accounting matters'; causing its shares to plunge 35% to $26.52. At the time, the company announced this would prevent it from submitting its 10-K annual securities filing and 10-Q quarterly filing, but promised an update on June 27. However, comScore's Board and Audit Committee said yesterday that they needed more time to review the investigation's findings.

In an update filed with the SEC, the company said the Audit Committee: 'continues to work vigorously to complete its review and report its finding to the Board,' adding that it needs more time to: 'evaluate the information collected and to reach and evaluate final conclusions'. The company did not provide details of a second deadline.

comScore's stock closed down 19% at $23.81 per share yesterday, and shares were trading at $23.69 earlier today.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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