It’s been eight weeks since Comscore CEO Bryan Wiener and President Sarah Hofstetter exited, resulting in a severe destabilization of the company’s stock.
The last 30 days have hardly been better: A steady decline started May 9 and has yet to stop.
With trading volume slightly higher than average, SCOR finished Tuesday’s trading on Nasdaq at $8.87, down 10 cents.
That’s a fresh low for an issue that still bears a 1-year target estimate of $22.67 and has shed nearly two-thirds of its value since its year-to-date peak of $23.22 on February 25.
Clouding Comscore are two key things. First, it forecast Q1 revenue to be lower than originally anticipated in a communique confirming Wiener and Hofstetter had departed. Then came the parade of shareholder complaints, and a resulting class action filed on behalf of investors who purchased comScore shares between November 8, 2018 and March 29, 2019.
There’s a June 10 deadline to file a lead plaintiff motion hanging for Glancy Prongay & Murray LLP. Also involved, among other firms, is the Los Angeles-based Shall Law Firm and Pawar Law Group, which had a June 3 deadline for its own class action filing.