Exhibit 5.1
November 13, 2000
Acxiom Corporation
P. O. Box 8180, 1 Information Way
Little Rock, Arkansas 72203
Re: REGISTRATION ON FORM S-3 OF SHARES OF COMMON STOCK PAR VALUE $.10 PER
SHARE
Ladies and Gentlemen:
We are acting as counsel to Acxiom Corporation, a Delaware corporation (the
"Company") in connection with the filing by the Company of a Registration
Statement on Form S-3 (the "Registration Statement") under the Securities Act of
1933, as amended, for the registration of up to 3,604,000 shares (the "Shares")
of common stock, par value $.10 per share, of the Company on behalf of certain
selling shareholders.
In connection with this opinion, we have examined the Registration
Statement and related prospectus and such other documents, records, and matters
of law as we have deemed necessary for purposes of this opinion. Based on such
examination and on the assumptions set forth below, we are of the opinion that
the Shares are legally and validly authorized and constitute validly issued,
fully paid, and nonassessable securities of the Company.
In rendering this opinion, we have (i) assumed and have not independently
verified (a) that all signatures on all certificates and other documents
examined by us are genuine, and that, where any such signature purports to have
been made in a corporate, governmental or other capacity, the person who affixed
such signature to such certificate or other document had authority to do so, and
(b) the authenticity of all documents submitted to us as originals and the
conformity to original documents of all documents submitted to us as copies and
(ii) as to certain factual matters, relied upon certificates of public officials
and of the Company and its officers and have not independently checked or
verified the accuracy of the factual statements contained therein. In addition,
our examination of matters of law has been limited to the General Corporation
Law of the State of Delaware and the federal laws of the United States of
America, in each case in effect on the date hereof.
We hereby consent to the filing of this opinion as Exhibit 5.1 to the
Registration Statement.
Very truly yours,
/s/ Kutak Rock LLP
