If you have purchased shares of Digital Generation Inc (NASDAQ:DGIT) between June 20, 2011 and February 19, 2013, call 1-800-934-2921 right now to protect your rights.
Filing deadline: 07/01/2013
The complaint made by the plaintiff on behalf of all investors who purchased Digital Generation Inc shares between June 20th 2011 and February 19th 2013 alleges that the Company and some of its directors and officers have acted in violation of the Securities Exchange Act of 1934 by making statements that were misleading or materially false. It is alleged that these statements were related to the Company's financial performance, future prospects and business.
A report issued by Digital Generation Inc indicated that revenues have increased from $241.33 million in 2010 up to $324.26 million in 2011. At the same time, the Company's net income has decreased from $41.57 million in 2010 to $24.48 million in 2011.
Digital Generation Inc has issued a report on November 8th 2012, which showed that during the quarter that came to an end on September 30th 2012, there was an impairment charge that totaled more than $208 million which was taken against some recently acquired online media assets. The assets is question are Peer 39, Eye Wonder and Media Mind.
An announcement was made by the Defendants on February 19th 2013. This announcement relates to a review of some strategic alternatives made by a Special Committee of its Board of Directors. According to Digital Generation Inc, the Special Committee has been at work since August 2012, trying to find strategic alternatives that would be suitable for the company. These alternatives include selling the entire business or parts of it, finding capital structure alternatives, a spin-off or split-off of certain parts of its business, as well as exploring potential mergers. According to the company, nobody that was involved with the Special Committee has put forward a definitive transaction that could be approved.
Shares of NASDAQ: DGIT have gone down from $12 in September 2012, to a low point of $5.86 per share. As of May 2nd 2013, shares of NASDAQ: DGIT were worth $6.44, which is significantly below the company's 52 week high, which was $13.20 per share.
Own shares of Digital Generation Inc (NASDAQ:DGIT)? Contact us to protect your rights.
If you have purchased shares of Digital Generation Inc (NASDAQ:DGIT) between June 20, 2011 and February 19, 2013, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.