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Short Take: Source Media hit with shareholder lawsuits

Source Media has been slapped with two shareholder lawsuits alleging that the information services and content company presented a rosier financial condition between October and August than actually existed. Two separate class-action suits were filed by the law firms of Barrack, Rodos & Bacine and Spector & Roseman in U.S. District Court for the Northern District of Texas. Source Media faces at least one other similar suit.

Source Media has been slapped with two shareholder lawsuits alleging that the information services and content company presented a rosier financial condition between October and August than actually existed. Two separate class-action suits were filed by the law firms of Barrack, Rodos & Bacine and Spector & Roseman in U.S. District Court for the Northern District of Texas. Source Media faces at least one other similar suit.