Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Millennial Media Inc. (MM) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Millennial Media Inc. (“Millennial” or the “Company”) (NYSE: MM) of the December 1, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Millennial, certain executives and directors, underwriters of the initial public offering (“IPO”) and secondary public offering (“SPO”) and selling shareholders of the secondary public offering.
A complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired Millennial common stock between March 28, 2012 and May 7, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, certain defendants made false and misleading statements and did not disclose material adverse information in SEC offering documents filed in connection with the sale of common stock in the Company’s IPO and SPO.
On May 7, 2014, Millennial published a press release announcing first quarter 2014 revenue and second quarter 2014 revenue guidance below analysts’ projections. In addition, the Company reported that its Chief Financial Officer was resigning.
Following this news, the price of Millennial stock declined by $1.99, or over 37%, to close at $3.36 on May 8, 2014.
If you invested in Millennial stock or options between March 28, 2012 and May 7, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Millennial’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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