Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/cvc) announces that a class action lawsuit has been filed in United States District Court for the Eastern District of New York on behalf of purchasers of Cablevision Systems Inc. ("Cablevision" or the "Company") (NYSE: CVC) common stock who purchased shares between February 16, 2011 and October 28, 2011, inclusive (the "Class Period").
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/cvc.
The Complaint among other things: (i) that Cablevision was experiencing higher retention and advertising costs; (ii) that Cablevision was losing more video customers than expected, especially in the New York area -- the Company's main service area -- due to increased competition; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On October 28, 2011, Cablevision announced its financial results for the third quarter of 2011, the period ended September 30, 2011. On that same day, Cablevision held a conference call with analysts and investors to discuss the earnings announcement and the Company’s operations, including the Company’s subscriber loss. In reaction to the Company’s announcement, the price of Cablevision stock fell $2.17 per share, or 13%, to close at $15.14 per share, on extremely heavy trading volume.If you are a member of the class, you may, no later than March 26, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
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