Nielsen rival’s shares are tanking over “potential accounting matters” that led to postponed SEC filing
ComScore has delayed the filing of its annual report — Form 10-K — due to “potential accounting matters,” the company said on Monday. As a result, the stock has plummeted about 34 percent today.
The data and analytics company is also postponing its previously scheduled March 16 Investor Day. Finally, comScore’s share repurchase program is on hiatus until a review is completed.
“On Feb. 19, 2016, the Audit Committee of comScore’s Board of Directors received a message regarding certain potential accounting matters,” the company revealed this morning via a media release.
In response, 10 days after the tip came in, comScore filed a Notification of Late Filing with the SEC, and an intention to file within 15 days. That no longer seems likely, however, and an Audit Committee and comScore’s own independent public accountants are still crunching numbers as the associated SCOR ones go way down.
Representatives from comScore declined TheWrap‘s request for comment.
Earlier this year, comScore completed its acquisition of media measurement company Rentrak.
Here’s a look at comScore’s rough stock day, just before market close: