An investigation on behalf of current long term investors in Cablevision Systems Corporation (NYSE: CVC) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE: CVC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/27/2012 -- Certain directors and officers of Cablevision Systems Corporation are under the investigation for current long term investors in Cablevision Systems Corporation (NYSE: CVC) shares over possible breaches of fiduciary duties.
Investors who are current long term investors in Cablevision Systems Corporation (NYSE: CVC) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Cablevision Systems Corporation (NYSE: CVC) stocks follows a lawsuit filed earlier by shareholders who purchased NYSE: CVC shares only between February 16, 2011 and October 28, 2011. The plaintiff in this lawsuit alleges that Cablevision Systems Corporation violated Federal Securities Laws by issuing allegedly materially false and misleading statements regarding Cablevision Systems’s business and prospects.
The investigation on behalf of current long term investors in Cablevision Systems Corporation (NYSE: CVC) stocks, including also those who purchased within or prior to the above stated time frame, concerns whether certain Cablevision Systems officers and directors breached their fiduciary duties owed to NYSE:CVC stockholders and can be held liable in connection with the allegations made in that lawsuit.
On October 28, 2011, Cablevision Systems Corporation 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. Then on December 15, 2011, the company’s chief operating officer resigned.
Shares of Cablevision Systems Corporation fell from as high as$37.69 in February, respectively $36.04 in June 2011 to as low as $12.75 per share on December 16, 2011.
On March 23, 2012, NYSE:CVC shares closed at $14.70 per share, less than half its value one year ago.
Those who are current long term investors in Cablevision Systems Corporation (NYSE: CVC) shares, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com