A second class action suit has been filed against Arbitron. This time, it’s on behalf of all persons who bought Arbitron stock between July 19 and Nov. 26, 2007.
Radio Ink is reporting Bala Cynwyd, a PA-based law firm of Brodsky & Smith, filed the suit in the U.S. District Court for the Southern District of N.Y. alleging the company violated federal securities laws “by issuing a series of material misrepresentations to the market, thereby artificially inflating the price of Arbitron.”