May 29, 2015 - The court dismissed the case without prejudice and ordered the case closed.
May 5, 2015 - The lead plaintiffs filed a notice of voluntary dismissal.

March 21. 2015 - The lead plaintiffs filed an amended complaint.

February 10, 2015 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

December 1, 2014 - Lead plaintiff motions were filed.

September 30, 2014 - An investor in shares of Millennial Media Inc (NYSE: MM) filed a lawsuit in the U.S. District Court for the Southern District of New York against Millennial Media Inc over alleged violations of Federal Securities Laws by Millennial Media Inc in connection with certain allegedly false and misleading statements made between March 28, 2012 and May 7, 2014.

The lawsuit was filed on behalf of those who purchased or otherwise acquired between March 28, 2012 and May 7, 2014, the common stock of Millennial Media Inc (NYSE: MM), as well as those who purchased the common stock of Millennial Media Inc (NYSE: MM) pursuant and/or traceable to registered public offerings on or about March 28, 2012 (Millennial Media Inc's initial public offering, or IPO ) and October 24, 2012 (the Secondary Offering ).

The plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that alleges that certain defendants made allegedly false and misleading statements and concealed material information relating to, among other things, the development and functionality of crucial technological products, the business synergies and integration progress of certain corporate acquisitions, and the prospects and outlook for Millennial Media Inc’s performance.

In addition, the plaintiff alleges that certain defendants made false and misleading statements and failed to disclose material adverse information in offering documents filed with the U.S. Securities and Exchange Commission in connection with the sale of more than $152 million of common stock in the Millennial Media Inc's IPO on March 28, 2012 and more than $162 million of common stock in the Millennial Media Inc's Secondary Offering on October 24, 2012.

Millennial Media Inc reported that its annual Total Revenue rose from $103.68 million in 2011 to $259.17 million in 2013 while its respective Net Loss increased from $0.29 million to $15.11 million. Shares of Millennial Media Inc (NYSE: MM) declined from $23.50 per share on March 30, 2012 to as low as $5.89 per share in February 2014.

Then on May 7, 2014 Millennial Media Inc reported its 2014 First Quarter financial results. Among other things, Millennial Media Inc issued its business outlook for the second quarter 2014. Millennial Media Inc said it expects total revenue for the second quarter of 2014 to be in the range of $70 million to $75 million and Adjusted EBITDA to be a loss between $(5) million and $(6) million. Shares of Millennial Media Inc (NYSE: MM) declined from $$6.39 per share on April 30, 2014 to $3.36 per share on May 8, 2014, and continued to decline to as low as $1.68 per share on September 30, 2014.

On October 2, 2014, Millennial Media Inc (NYSE: MM) shares closed at $1.96 per share.