San Diego, CA -- (SBWIRE) -- 09/26/2012 -- An investigation on behalf of current long term stockholders in shares of Cablevision Systems Corporation (NYSE:CVC) over potential breaches of fiduciary duties at Cablevision Systems Corporation was announced.
If you are a current long-term stockholder in shares of Cablevision Systems Corporation (NYSE:CVC), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns possible breaches of fiduciary duty by certain officers and directors of Cablevision Systems Corporation. Specifically, the investigation focuses on the Cablevision Systems’ response to and public disclosures concerning competition from Verizon Communications, Inc. in the cable television business in the New York Metropolitan area
Cablevision Systems Corporation (NYSE:CVC) reports that its annual Revenue rose from over $5.48 billion in 2008 to over $6.7 billion in 2011 and its Net Loss of $228.06 million in 2008 turned into a Net Income of $291.86 million in 2011.
Shares of Cablevision Systems Corporation (NYSE:CVC) rose from as low as $10.35 in March 2009 to as high as $37.69 per share in February 2011.
However, despite improved financial results, since then NYSE:CVC shares have lost substantial value and fell in late 2011 to as $12.75 and to $10.97 per share in May 2012.
Since then NYSE:CVC shares have increased and closed on September 25, 2012, at $15.90 per share, less than half of their value from Feb. 2011.
Those who are current long-term stockholders in shares of Cablevision Systems Corporation (NYSE:CVC), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego