An investigation on behalf of investors of Naspers Limited (ADR) (OTCMKTS:NPSNY) shares over potential securities laws violations by Naspers Limited and certain of its directors and officers 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 Naspers Limited (ADR) (OTCMKTS:NPSNY) concerning whether a series of statements by Naspers Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

South Africa based Naspers Limited is a global Internet and entertainment company, and a technology investor. Naspers Limited reported that its Total Revenue rose from over $5.93 billion for the 12 months period that ended on March 31, 2016 to over $6.09 billion for the 12 months period that ended on March 31, 2017 ad that its Net Income increased for those time periods from $994 million to over $2.92 billion.

Shares of Naspers Limited (ADR) (OTCMKTS:NPSNY) reached $59.15 per share in November 2017.

On December 1, 2017, Naspers Limited reported that its wholly-owned television unit MultiChoice had initiated an investigation into whether improper payments were made to ANN7, a South African news channel owned by the politically-connected Gupta family. According to local media, citing leaked emails, MultiChoice substantially increased its annual payment to ANN7 from 50 million rand to 141 million rand ($10 million) over the past two years.