February Deadline for comScore to Avoid Delisting

Audience measurement firm comScore has been granted more time to regain compliance with the listing rules of stock exchange Nasdaq.

Having revealed in March that it was investigating irregularities in its accounts, comScore finally released the results of the audit in September, having failed to file reports in the meantime and been threatened with suspension by the exchange.

The audit committee concluded that the company's consolidated financial statements for years ended December 31st, 2014 and 2013 - as well as its quarterly and annual statements for 2015 - should no longer be relied upon, and the company restated revenue and operating loss figures for those periods.

Nasdaq's Listing Qualifications Department told comScore its shares would be delisted in September, but the company appealed and has now been given until February 23rd 2017 to regain compliance - Nasdaq says this is the 'maximum amount of discretion' it can give.

Missed filings include the company's 10-K annual report for last fiscal year and its 10-Q filings for the first two quarters of this calendar year.

Co-founder Gian Fulgoni (pictured) moved into the role of Chief Executive Officer in August, replacing Serge Matta, while co-founder Magid Abraham resigned as Executive Chairman of the Board in July. Shares in the ratings pioneer, which has acquired TV and film audience tracker Rentrak, continue to hover around the $29 - $30 mark, where they have been for most of the last eight months.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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