Audible Shareholders Sue, Saying Company Broadcast the Wrong Message A group of Audible shareholders has filed a class action lawsuit against the company following its recent quarterly report and ensuing stock swoon (now down almost 50 percent from its recent high). The complaint charges that the company misrepresented its plans and objectives by not disclosing that, “(a) the Company’s heady growth could not continue without material investments in expensive strategic initiatives that would severely erode the Company’s earnings in the foreseeable future; and (b) the Company was about to embark on expensive strategic initiatives that would constitute a material risk […]
