STEVENSON, Md., May 8, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas on behalf of purchasers of Digital Generation, Inc. ("Digital Generation" or the "Company") (Nasdaq:DGIT) common stock during the period between June 20, 2011 and February 19, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Digital Generation, Inc. common stock purchased on or after June 20, 2011, and held through any of the negative announcements described below, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 1, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company's online segment was underperforming and below the value reported to investors, that past acquisitions had masked the Company's declining revenue base, and that the Company had vastly overpaid for its acquisition of Media Mind, Inc. and other online segments. According to the Complaint, following the Company's November 8, 2012 disclosure that it had taken an impairment charge of more than $208 million against its recently acquired online media assets, Media Mind, Inc., Eye Wonder, and Peer 39, and that its television unit had taken an impairment charge of over $131 million, and following the Company's February 19, 2013 disclosure that the Company recorded an additional $11.4 million write-down of its recently acquired online segments, the value of Digital Generation shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 firstname.lastname@example.orgSource: Brower Piven, A Professional Corporation