Cablevision Systems Corporation (NYSE: CVC) Investor Files Lawsuit Against Cablevision Systems Over Alleged Violations Of Securities Laws

If you purchased shares of Cablevision Systems Corporation (NYSE: CVC) between February 16, 2011 and October 28, 201, you have certain options and there are strict and short deadlines running. Deadline: March 26, 2012. NYSE CVC stockholders should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Cablevision Systems Corporation
Case Name: 
Cablevision Systems Corporation Shareholder Class Action Lawsuit 01/26/2012
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: CVC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/26/2012
Class Period Begin: 
02/16/2011
Class Period End: 
10/28/2011
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
03/26/2012
Summary: 

San Diego, Jan. 26, 2012 (Shareholders Foundation) -- An investor in shares of Cablevision Systems Corporation (NYSE:CVC) filed a lawsuit in the U.S. States District Court for the Eastern District of New York against Cablevision Systems Corporation over alleged Securities Laws Violations in connection with its financial statements.

According to the complaint the plaintiff alleges on behalf of purchasers of the common stock of Cablevision Systems Corp. (NYSE: CVC) between February 16, 2011 and October 28, 2011, that Cablevision Systems Corporation and certain of its officers and directors violated Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Cablevision Systems’s business and prospects.

Cablevision Systems Corporation reported that its annual Revenue increased from $6.48billion for 2007 to $7.23billion for 2010 and its Net Income rose from a Net Loss of $228.06million for 2008 to a Net Income of $360.95million for 2010.

Shares of Cablevision Systems Corporation (Public, NYSE:CVC) surged from as low as $10.35 per share in March ’09 to over $37 per share during February 2011. However NYSE CVC shares fell from slightly over $36 per share in June 2011 to under $17 in August 2011.

On October 28, 2011, reported its third quarter 2011 results. Among other things, Cablevision Systems Corp. reported that its third quarter Revenue increased from its third quarter Revenue 2010 of $1.54billion to a third quarter Revenue of $1.66billion in 2011, however its third quarter Net Income fell from $68.44million to $39.32million.

Then on December 15, 2011, the company’s chief operating officer resigned.

Shares of Cablevision Systems Corporation fell on December 16, 2011 to as low as $12.75 per share.