comScore, Inc. (SCOR) Accused of Overstating Revenues and Earnings
According to the complaint against comScore, Inc. (NASDAQ: SCOR) for alleged violations of the Securities Exchange Act of 1934 between November 8, 2018 and March 29, 2019, on March 21, 2019, the company revealed that it expects first quarter 2019 revenue to be below previously announced expectations. ComScore also revealed that its Chief Executive Officer, Bryan Wiener, and President, Sarah Hofstetter, both of whom had been appointed to their positions less than one year ago, would both be resigning. The next day in a filing with the U.S. Securities and Exchange Commission, comScore elaborated that Wiener had resigned because he “disagreed with the Company regarding the execution of strategy.” Following this news, comScore’s stock dropped nearly 30% to close at $14.24 per share on April 1, 2019.