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infoUSA Delays Filing
Business and consumer database giant and ORC parent infoUSA has announced that it will not meet the initial March 17 deadline for filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2007. The firm cites shareholder litigation and an ongoing SEC investigation.
The news follows an announcement at the turn of the year (www.mrweb.com/drno/news7751.htm ) that the company's Board of Directors had formed a Special Litigation Committee (SLC) in response to litigation brought by shareholders (infoUSA, Inc. Shareholders Litigation, Consol. Civil Action No. 1956-CC (Del. Ch.)) and a related informal investigation by the Securities and Exchange Commission. In the light of the ongoing investigation, infoUSA now says it will be unable to file the Form 10-K on time, but intends to file a Form 12b-25 on or around March 17, and the Form 10-K as soon as practicable thereafter.
Omaha, NE-based infoUSA, founded in 1972, is online at www.infoUSA.com. It completed its acquisition of Opinion Research Corporation in December 2006 (www.mrweb.com/drno/news6215.htm ).
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