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.

Jan. 2, 2002 4:43 p.m. PT

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.