LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Nielsen Holdings PLC To Contact The Firm
NEW YORK, Sept. 26, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Nielsen Holdings PLC (“Nielsen” or the “Company”) (NYSE:NLSN) of the October 9, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Nielsen stock or options between February 11, 2016 and July 25, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/NLSN. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
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The lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all those who purchased Nielsen common stock between February 11, 2016 and July 25, 2018 (the “Class Period”). The case, Plumbers and Steamfitters Local 60 Pension Trust v. Nielsen Holdings plc et al, No. 18-cv-06459 was filed on September 21, 2018, and has been assigned to Judge Virginia Mary Kendall.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Buy segment sales were experiencing a permanent decline; (2) certain of the Company’s clients were reducing and cancelling Nielsen project work; (3) the Company disregarded the true risks of privacy related regulations and policies, including the General Data Protection Regulation (“GDPR”), to its business prospects; (4) the Company’s financial performance was far more dependent on third-party large data set providers than previously disclosed; and (5) access to Facebook and other third-party provider data was becoming increasingly restricted for Nielsen and its clients.
Specifically, on October 25, 2016, Nielsen announced weak third quarter 2016 results due primarily to underperformance in the Company’s Buy segment.
On this news, Nielsen’s stock price fell from $54.93 per share on October 24, 2016 to $45.65 per share on October 25, 2016—a $9.28 or 16.89% drop.
On April 25, 2017, Nielsen reported financial results for the first quarter of 2017, disclosing that its Buy revenues in developed markets decreased by 8.5% due to continued softness in its U.S. market.
Following this disclosure, Nielsen’s stock price fell from $41.59 on April 24, 2017 to $39.98 on April 25, 2017—a $1.61 or 3.87% drop.
On October 25, 2017, Nielsen announced its third quarter 2017 results. According to the complaint, the Company downplayed the extent of the problem with its Buy segment and remained optimistic about the prospects of its emerging markets.
On these results, Nielsen’s stock price fell from $41.13 on October 24, 2017 to $38.56 on October 25, 2018—a $2.57 or 6.25% drop.
Then, premarket on February 8, 2018, the Company announced disappointing financial results for its fourth quarter and fiscal year 2017, stating that revenues within its Buy segment for the fourth quarter decreased year-over-year.
On this news, Nielsen’s stock price fell from $37.56 per share on February 7, 2018 to $33.90 per share on February 8, 2018—a $3.66 or 9.74% drop.
Then, on July 26, 2018, the Company announced disappointing financial results for the second quarter of 2018. Nielsen blamed the results, in part, on the negative impact that the GDPR had on the Company’s access to large data sets provided by partners like Facebook and stated further that “[o]ur results are significantly below our expectations as revenues were impacted by GDPR and changes to the consumer data privacy landscape.”
Following this announcement, Nielsen’s share price fell from $29.57 on July 25, 2018 to $22.11 on July 26, 2018—a $7.46 or 25.23% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Nielsen’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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