Boston, MA 02/07/2013 (wallstreetpr) – Cablevision Systems Corporation (NYSE:CVC) recently filed an emergency application with the Chief Justice of the United States, demanding the suspension of active pursuit of complaints launched by the National Labor Relations Board against the company. Furthermore, an immediate relief has been sought by the company to provide for the stay of an upcoming administrative trial.
All such cases and trials were initiated in early February 2013 when the Communications Workers of America (CWA), representing a small number of employees of Cablevision Systems Corporation (NYSE:CVC) in Brooklyn, approached the NLRB for a vote to determine whether CWA would continue representing the employees. Instead of voting on this request, the National Labor Relations Board started to file unfounded complaints against Cablevision Systems Corporation (NYSE:CVC). The administrative trial on this case is due by the end of this month.
Shares of Cablevision Systems Corporation (NYSE:CVC) increased by 9.63 percent to close at $18.44 on Monday. The shares recorded an intraday high of $18.50 per share and an intraday low of $17.25 per share during the day. During the last trading session, shares of Cablevision Systems Corporation (NYSE:CVC) recorded a 52-week high of $18.85 and a 52-week low of $12.66 per share.
Cablevision Systems Corporation (NYSE:CVC) was trading at very high volumes, namely at 11.54 million shares on Monday, while the average level of trading in the company is only 3.18 million shares per day. With 267.24 million shares outstanding in the market, Cablevision Systems Corporation (NYSE:CVC) currently has a market cap of $4.93 billion and an institutional ownership of 75 percent of total share capital.
Cablevision Systems Corporation (NYSE:CVC) is primarily engaged in providing cable television services to around 3.2 million video customers in the New York metropolitan area and other major areas of the United States.
