SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Millennial Media, Inc. - MM

NEW YORK, Oct. 6, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Millennial Media, Inc. ("Millennial" or the "Company") (NYSE: MM).  Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.

The investigation concerns whether Millennial and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On February 19, 2014, the Company issued a press release announcing disappointing revenue guidance for the first quarter of 2014 of between $72 million and $76 million, far below analysts' expectations of $83 million.  Millennial also revealed that, based on the then current state of its technology, it could not expect to achieve earlier growth projections, or even match the growth rate of other firms in its industry.

On this news, shares of Millennial fell $1.05 per share, or about 15%, to close at $6.15 on February 20, 2014.

On May 7, 2014, Millennial issued a press release reporting revenue for the first quarter of 2014 below analysts' projections and revenue guidance for the coming quarter of between $70 million and $75 million, well below analysts' projections.  Additionally, the Company reported that its Chief Financial Officer, Michael B. Avon, would step down from his role as of July 1, 2014 to "pursue other career interests." 

On this news, shares of Millennial fell $1.99 per share, or about 37.20%, to close at $3.36 on May 8, 2014.

The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]

SOURCE Pomerantz LLP