San Diego, CA -- (SBWIRE) -- 02/22/2012 -- A deadline is coming up on March 26, 2012 in the lawsuit filed for investor of Cablevision Systems Corporation (NYSE: CVC) against Cablevision Systems over alleged Securities Laws Violations.
Investors with a substantial investment in Cablevision Systems Corporation (NYSE: CVC) shares between February 16, 2011 and October 28, 2011, have certain options and there are strict and short deadlines running. Deadline: March 26, 2012. NYSE: CVC stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Eastern District of New York 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’ business and prospects.
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. On December 15, 2011, the company’s chief operating officer resigned.
Shares of Cablevision Systems Corporation fell from as high as $37.62 on Feb. 18, respectively $36.04 on June 17, 2011, to as low as $12.75 per share on December 16, 2011.
Since then NYSE:CVC shares recovered some value and closed on February 17, 2012 at $15.37 per share, still less than half the value from the first half of 2011.
Those who purchased shares of Cablevision Systems Corporation (NYSE: CVC) between February 16, 2011 and October 28, 201, have certain options and there are strict and short deadlines running. Deadline: March 26, 2012. NYSE CVC stockholders should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego