July 23, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in Rovi Corporation (NASDAQ:ROVI) shares over potential securities laws violations by certain officers and directors at Rovi Corporation in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Rovi Corporation (NASDAQ:ROVI) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about Rovi Corporations business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Rovi Corporation (NASDAQ:ROVI) reported that its annual Revenue increased from $327.44million in 2008 to $690.81million in 2011.

However, its Net Income of $212.95million in 2010 turned into a Net Loss of $41.19million in 2011.

Shares of Rovi Corporation (NASDAQ:ROVI) rose from as low as $9.60 per share in November 2008 to as high as $68.58 per share in January 2011.

On July 17, 2012, after the market closed, Rovi Corporation (NASDAQ:ROVI) provided preliminary second quarter financial results and updated its outlook for the Full Year 2012.


Shares of Rovi Corporation (NASDAQ:ROVI) dropped from $17.65 per share on July 17, 2012 to $10.01 per share on July 18, 2012.

On July 23, 2012, NASDAQ:ROVI shares closed at $12.58 per share.