Lawsuit Overview
September 27, 2019 - A second amended complaint was filed.
July 12, 2019 - A corrected amended complaint was filed.
June 21, 2019 - An amended complaint was filed.
August 8, 2018 - An investor in shares of Nielsen Holdings plc (NYSE: NLSN) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Nielsen Holdings plc in connection with certain allegedly false and misleading statements made between February 8, 2018 and July 25, 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of Nielsen Holdings plc (NYSE: NLSN) common shares between February 8, 2018 and July 25, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 8, 2018 and July 25, 2018, the defendants made materially false and/or misleading statements and/or failed to disclose that Nielsen Holdings plc recklessly disregarded its readiness for, and the true risks of, privacy-related regulations and policies, including the European General Data Protection Regulation, on its current and future financial and growth prospects, that Nielsen Holdings plc Nielsen’s financial performance was far more dependent on Facebook and other third-party large data set providers than previously disclosed, and privacy policy changes affected the scope and terms of access Nielsen would have to third-party data, that Nielsen Holdings plc access to Facebook and other third-party provider data was becoming increasingly restricted for Nielsen and its clients, and that as a result, defendants’ public statements were materially false and/or misleading and/or lacked a reasonable basis.
United Kingdom based Nielsen Holdings plc, together with its subsidiaries, operates as an information and measurement company. Nielsen Holdings plc reported that its annual Total Revenue rose from over $6.3 billion in 2016 to over $6.57 billion in 2017 and that its Net Income declined from $502 million in 2016 to $429 million.
On July 25, 2018, Nielsen Holdings plc reported second-quarter results that fell short of analysts' projections. Quarterly revenue grew 0.6% year over year to $1.647 billion, while adjusted earnings dropped by almost half to $0.20 per share.
In a separate release issued on July 25, 2018, Nielsen Holdings plc announced that James Attwood would assume the role of Executive Chairman of the Board and Mitch Barns, current CEO, would retire at the end of 2018.
Shares of Nielsen Holdings plc (NYSE: NLSN) declined from $55.86 per share in July 2016 to as low as $22.03 per share on August 3, 2018.