Acxiom Corporation Under Long Term Investor Investigation

If you are a current long term investor in shares of Acxiom Corporation (NASDAQ:ACXM) including those who purchased NASDAQ ACXM shares (also) prior to October 27, 2010 and continue to hold those NASDAQ:ACXM shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Acxiom
Affected Securities: 
NASDAQ: ACXM

An investor in Acxiom Corporation shares filed a lawsuit on behalf of purchasers of Acxiom Corp common stock only during the period between October 27, 2010 and March 30, 2011 over alleged Securities Laws violations. Meanwhile an investigation on behalf of current long term investors in shares of Acxiom Corporation (NASDAQ:ACXM) including and in particular those who purchased (also) prior to October 2010 and presently continue to hold those shares was announced.

The investigation by a law firm on behalf of current long term investors in stocks of Acxiom Corporation (NASDAQ:ACXM) concerns whether certain current and/or former members of Acxiom’ board of directors and certain executive officers can be held liable in connection with the alleged Securities Laws violations in the lawsuit filed by investors who purchased ACXM shares only between October 27, 2010 and March 30, 2011.

According to the complaint filed in the United States District Court for the Eastern District of Arkansas the plaintiff alleges that Acxiom Corp violated the Securities Exchange Act of 1934 by failing to disclose between Oct. 27, 2010 and March 30, 2011 material adverse facts about its true financial condition, business and prospects.

Acxiom Corp;s 12months Total Revenue declined over the past four filing periods. Its 12months Total Revenue decreased from $1.390billion to lately $1.099billion. Its Net Income decreased from $67.87million to lately $44.55million.

Shares of Acxiom Corporation (Public, NASDAQ:ACXM) traded during 2006 as high as $26.46 per share and even reached in 2007 $28.03 per share. During 2008 and 2009 ACXM shares fell to as low as $6.78, respectively $7.19 per share. During 2010 ACXM shares rose to almost $20 per share and traded during January and February 2011 around $18 per share.

Then on March 30, 2011 Acxiom Corporation (Nasdaq: ACXM) announced among other things that John A. Meyer notified the company of his resignation from his positions as the Chief Executive Officer and President of the company, and as a member of its Board of Directors, effective March 28, 2011. The data services company gave no reason for the departure of John A. Meyer, but said also that its chief financial officer, Christopher Wolf, plans to step down.
Acxiom Corporation further said that it expects to record a non-cash impairment charge of $50 million to $90 million in the fourth quarter in connection with a write-down of the carrying value of goodwill and other long-lived assets associated with its international operations. Acxiom Corp. also forecasts a weaker fiscal fourth quarter.
Following the announcement shares of Acxiom Corporation (Public, NASDAQ:ACXM) fell from $17.46 on Tuesday to $12.63 per share during Wednesday’s trading.

ACXM closed on March 30, 2011 at $13.50 per share and closed on April 29, 2011 at $14.56 per share.