Labaton Sucharow LLP (“Labaton Sucharow”) announces that on September 21, 2018, it filed a securities class action lawsuit on behalf of its client Plumbers and Steamfitters Local 60 Pension Trust (“UA Local 60”) against Nielsen Holdings plc (“Nielsen” or the “Company”) (NYSE: NLSN), and certain of its senior executives (collectively, “Defendants”). The action, which is captioned Plumbers and Steamfitters Local 60 Pension Trust v. Nielsen Holdings plc, No. 1:18-cv-06459 (N.D. Ill.), asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and U.S. Securities and Exchange Commission (“SEC”) Rule 10b-5 promulgated thereunder, on behalf of all persons or entities who purchased or otherwise acquired Nielsen common stock between February 11, 2016 and July 25, 2018, inclusive (the “Class Period”).
The Complaint expands the class period asserted in the action against Nielsen captioned Gordon v. Nielsen Holdings plc, No. 1:18-cv-07143-JFK (S.D.N.Y.) (“Gordon”). Pursuant to the notice published on August 8, 2018 in connection with the filing of the first-filed Gordon action, as required by the Private Securities Litigation Reform Act of 1995, investors wishing to serve as Lead Plaintiff in the securities actions pending against Nielsen are required to file a motion for appointment as Lead Plaintiff by no later than October 9, 2018.
Nielsen provides its customers with analytical data to assist in their comprehensive understanding of what products consumers buy and what programming consumers watch. Nielsen divides its business into two segments: (1) Buy; and (2) Watch. The Company’s Buy segment tracks millions of retail transactions around the world and transforms this data into various products that assist consumer packaged goods (“CPG”) companies in their marketing decisions. Nielsen’s Watch segment “provides viewership and listening data and analytics primarily to the media and advertising industries across the television, radio, print, online, digital, mobile viewing and listening platforms.”
The truth regarding Nielsen’s struggling business and financial condition was revealed through a series of disclosures culminating on July 26, 2018, when Nielsen announced disappointing results for its second quarter ended June 30, 2018. Nielsen attributed these disappointing results to the negative impact that the GDPR and other privacy regulations had on its business and the continued underperformance of its Buy segment. In addition, Nielsen announced that it had opened an in-depth strategic review of its Buy segment and that its Chief Executive Officer would retire at the end of 2018. On this news, the Company’s stock price fell $7.46 per share, or more than 25 percent, to close at $22.11 per share on July 26, 2018.
If you purchased or acquired Nielsen common stock during the Class Period, you are a member of the “Class” and may be able to seek appointment as Lead Plaintiff. Lead Plaintiff motion papers must be filed no later than October 9, 2018. The Lead Plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as Lead Plaintiff to share in any Class recovery in this action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. You may retain counsel of your choice to represent you in this action. If you would like to consider serving as Lead Plaintiff or have any questions about this lawsuit, you may contact Francis P. McConville, Esq. of Labaton Sucharow, at (800) 321-0476, or via email at firstname.lastname@example.org. You can view a copy of the complaint online here.
UA Local 60 is represented by Labaton Sucharow, which represents many of the largest pension funds in the United States and internationally with combined assets under management of more than $2 trillion. Labaton Sucharow’s litigation reputation is built on its half-century of securities litigation experience, more than 60 full-time attorneys, and in-house team of investigators, financial analysts, and forensic accountants. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at www.labaton.com.