Case Name: Nielsen
Settlement Fund: $73,000,000
Claim Filing Deadline: July 15, 2022
Class Period: 2/11/2016 -- 7/25/2018
Symbol: NLSN
Investors are receiving notices this week in the Nielsen securities litigation. The team at CCC is already reviewing trade data and preparing claims for hundreds of our clients and tens of thousands of their client accounts. If you want the burden of filing claims in this settlement, and in any of the other 40+ upcoming securities class action settlements, give us a call today at 312-204-6970.
What this case is about
Nielsen, the market share rating company famous for ranking what's hot and what's not on television, has settled a securities suit over allegations it defrauded the market, "by knowingly or recklessly making materially false and misleading statements and omissions about Nielsen’s Buy and Watch businesses." So say the plaintiffs in their amended complaint.
Nielsen's "Buy" segment helps companies track retail transactions. The "Watch" segment tracks user data for television, radio, and the internet. For both services, Nielsen can also interpret this data for their clients so they can then better market their products and get more people to, you know, buy and/or watch things.
Throughout the class period, plaintiffs allege, Nielsen's executives made a series of confident claims about how well business was doing when in fact the company was experiencing, "a dramatic trend: clients no longer wanted to pay for Nielsen’s analytics."
On February 11, 2016, which is the beginning of the class period, Nielsen announced that the Buy segment would, “strengthen and expand.” Plaintiffs argued that, "The market was excited by Nielsen’s news of growth and client spending, and Nielsen’s stock price increased by 4.2% that day, to close at $47.33. Analysts called Nielsen a 'safe haven' and discussed their confidence in Nielsen based on [its] 'stability'" Eventually, on the back of these alleged misstatements, Nielsen stock traded in the mid $50 range.
Plaintiffs claim that Nielsen "shocked the market" on October 25, 2016 during its third quarter earnings call by finally admitting its Buy market was experiencing a decline, which contradicted months of rosy statements. "On this news the stock dropped $9.28 (6.8%) per share, on extremely heavy trading volume, to close at $45.65 per share. Analysts were astounded by this news..."
Nielsen common stock continued to fluctuate, and mainly decline, in the ensuing months-- and worse was yet to come. Nielsen began to struggle with its Emerging Markets segment, and allegedly obfuscated and concealed this fact. Finally, the full picture was revealed on July 26, 2018 when the company released its second quarter results for the year. Jamere Jackson, Nielsen's CFO, told investors the company had experienced, “one of the most challenging quarters for our business in over a decade.” While Nielsen had claimed that the Emerging Markets segment might grow by 8%-10%, it had only grown by 0.3%. The Developed Markets segment also saw considerable decline. The company had expected a decline of 2%-4%, but in fact it fell by 6.9%. On this news, Nielsen stock fell to $22.11 per share.
While denying any wrongdoing, Nielsen has settled this suit for $73 million. Claims are due July 15, 2022. If you would like to discuss this case further with one of our account executives, or learn how you can keep up with the 100-plus securities settlements each year, then please give us a call at 312-204-6970.
Plaintiffs allege Alibaba's anti-competitive practices and a canceled IPO drove down stock price
CCC is Preparing Claims for Qualcomm Investors, Deadline Only Weeks Away
Plaintiffs allege Uber IPO was a "train wreck" for investors
Under Armour settles securities suit over allegations high inventories led to low profits
Apple, Boeing, and Weatherford Each Agree to Mega-Settlements
Alphabet Settles Securities Suit for $350 Million
Stock Loan Antitrust Settlement: A big opportunity should not be a big hassle
Alexion Pharmaceuticals Settles Securities Class Action over Alleged Illicit Sales Practices
Allegation that You’re in Bad Hands with Allstate Leads to $90 Million Settlement
Claim Forms Are Coming in the Payment Card Interchange Fee. CCC Can Help
Alexion Pharmaceuticals Settles Securities Class Action over Alleged Illicit Sales Practices
Allegation that You’re in Bad Hands with Allstate Leads to $90 Million Settlement
Claim Forms Are Coming in the Payment Card Interchange Fee. CCC Can Help
World Cup Bribery Scandal Leads to $95 Million Grupo Televisa Settlement
Case Profiles: The Kraft Heinz Company Securities Litigation and Fair Fund
Millions in Unsellable Inventory Leads to $109 Million Cardinal Health Securities Settlement
Securities Class Action Settlements in 2022 Hit Highest Levels in 15 Years
Micro Focus Settles Suit Alleging it Botched HPE Purchase for $107.5 Million
Wells Fargo Settles Securities Suit for $300 Million
Generic Drug Price-Fixing Allegations Lead to McKesson's $141 Million Settlement
Tesla Fends Off Securities Suit With Rare Victory in a Rare Trail
Elon Musk's Infamous 4-20 Tweet Leads to Rare Securities Litigation Trial
Barclays Massive Bond Over-Issuance Leads to a Securities Class Action
$809.5 Twitter Settlement Arrives at Last
How to Claim Your Piece of the $5.54 Billion Payment Card Settlement
Anti-competition Probes and Overexpansion Lead to Multiple Class Actions Against Amazon
How CCC Helps Investors Participate in Foreign Financial Litigations
Cryptic Tweet Leads to $40 Million Tesla Fair Fund
Nielsen Holdings, Market Share King, Settles Securities Suit over Its Own Market Troubles
Infrastructure Cost Overruns Leads to $129 Million Granite Construction Securities Settlement
Petrobras Fair Fund Offers $85.32 Million in Relief to Harmed Investors
Barclays and JPMorgan Settle Mexican Bond Antitrust Litigation for $20,700,000
Deadline Is Soon for the $27.5 Million GreenSky Securities Settlement
Symantec, now known as NortonLifeLock, Settles Securities Suit for $70 Million
Corrections Corporation of America Settles Securities Litigation over the Safety of Its Prisons
Twitter Securities Class Action Ends with an $809.5 Million Settlement
Honest Company, Boston Beer Company, Waterdrop, and Longeveron Face Securities Class Action Suits
Door Manufacturer JELD-WEN Settles Securities Suit Related to Price-Fixing Scandal
Allergan Settles Securities Suit Related to Price-Fixing Scandal for $130 Million
Nikola Trucks Scandal Leads to Securities Suit and a Criminal Indictment of Its Founder
Why Every Investor Needs a Class Action Claim Filing Partner
Willis Towers Watson Settles a Pair of Merger-Related Suits for $90 Million
Snap Settles Two Suits in State and Federal Court for $187,500,000
Another MBS Settlement: $275 Million Morgan Stanley Fair Fund
Santander Consumer Holdings USA Securities Class Action Provides $39 Million to Investors
Avon Settles Suit Over Brazilian Market Practices
The LIBOR Bondholder Settlement: Several Big Problems and One Simple Solution
Snap, Parent Company of Snapchat, Settles Suit Over Allegations They Understated Competition
Eight Years in the Making, First Solar Settlement Provides $350 Million to Harmed Investors
Coronavirus Related Securities Class Actions Arrive
GSE Bonds Antitrust Litigation Update
Equifax Data Breach Leads to Securities Litigation Settlement
Wells Fargo Fair Fund to Provide $500 Million to Investors
NERA Year-End Report for 2019: More complaints, bigger backlog of unresolved cases
GSE Bonds Claim Filing Deadline Extended to February 28, 2020
404 South Wells St., Suite 600,
Chicago, IL 60607 – United States
Phone: (312) 204-6970
Email:
info@chicagoclearing.com
Chicago Clearing Corporation is the
industry leader in class-action services.
2024 © Chicago Clearing Corporation. All rights reserved. Terms and conditions