Business and consumer database giant and ORC parent infoUSA has announced that it will not meet the initial March 17 deadline for filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2007. The firm cites shareholder litigation and an ongoing SEC investigation.
The news follows an announcement at the turn of the year (www.mrweb.com/drno/news7751.htm ) that the company's Board of Directors had formed a Special Litigation Committee (SLC) in response to litigation brought by shareholders (infoUSA, Inc. Shareholders Litigation, Consol. Civil Action No. 1956-CC (Del. Ch.)) and a related informal investigation by the Securities and Exchange Commission. In the light of the ongoing investigation, infoUSA now says it will be unable to file the Form 10-K on time, but intends to file a Form 12b-25 on or around March 17, and the Form 10-K as soon as practicable thereafter.
Omaha, NE-based infoUSA, founded in 1972, is online at www.infoUSA.com. It completed its acquisition of Opinion Research Corporation in December 2006 (www.mrweb.com/drno/news6215.htm ).
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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