In re Nielsen Holdings PLC Securities Litigation

Labaton Keller Sucharow is lead counsel in a securities class action against Nielsen Holdings plc (Nielsen or the Company), and certain of its senior executives (collectively, Defendants).  The action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and 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).

Nielsen is a data analytics company that provides clients with information about consumer preferences.  When the Action was filed, Nielsen had two businesses: (i) “Buy,” focused on consumer purchasing measurement and analytics; and (ii) “Watch,” focused on media audience measurement and analytics.  The Buy business was subdivided into two segments: Developed Markets (BDM), consisting of the United States, Canada, Western Europe, Japan, South Korea, and Australia; and Emerging Markets (BEM), consisting of Africa, Latin America, Eastern Europe, Russia, China, India, and Southeast Asia.  The Watch business was subdivided by major product offerings, consisting of Audience Measurement, Audio, and Marketing Effectiveness (WME).

The operative Second Amended Complaint alleges that during the Class Period, Defendants made false and misleading statements and omissions in connection with (i) the financial performance of Nielsen’s Buy business; (ii) alleged trends affecting Nielsen’s Buy business; (iii) Nielsen’s valuation of the goodwill of its Buy business; and (iv) the alleged effects of the European Union’s General Data Protection Regulation on Nielsen’s business.

Defendants moved to dismiss Second Amended Complaint on November 26, 2019, which Lead Plaintiff opposed on January 27, 2020.  On January 4, 2021, the Court ruled on the motion to dismiss.  The Court dismissed certain claims in the Second Amended Complaint, while sustaining other claims.  During the course of the litigation, the Parties engaged in extensive discovery including the review of 490,000 pages of documents produced by Defendants.  Lead Plaintiff conducted a 30(b)(6) deposition of Nielsen, with three different individuals sitting for depositions on behalf of the Company.  Lead Plaintiff also took depositions of 11 additional current or former employees of Nielsen before the case settled.

The Parties participated in two mediation sessions, one in December 2021 and the second in February 2022 and agreed to settle the Action for $73,000,000 in February 2022, pursuant to a Mediator’s proposal.  The Parties executed the Stipulation and Agreement of Settlement on March 15, 2022.

The case is In re Nielsen Holdings PLC Securities Litigation, No. 18-cv-07143 (S.D.N.Y.).  Labaton Keller Sucharow represents lead plaintiff Public Employees’ Retirement System of Mississippi.  The Defendants are Nielsen, and CEO and Chairman of the Board of Directors Dwight Mitchell Burns, its CFO Jamere Jackson, its Senior Vice President of Product Leadership Kelly Abcarian, and its former Global President and COO Stephen Hasker.

Settlement Hearing

The Court held a Settlement Hearing on July 20, 2022, and approved the Settlement.  The Settlement will provide a gross amount of $73 million (the Settlement Amount), plus interest earned thereon, if any, minus attorneys’ fees, costs, administrative expenses, and taxes (the Net Settlement Fund), to pay the claims of eligible claimants.

On May 9, 2023, the Court authorized a distribution of the Net Settlement Fund.  We are in the process of distributing the Net Settlement fund to eligible claimants.  If you receive a payment and have any questions or need assistance, please call 1-855-662-0033 or email info@NielsenSecuritiesSettlement.com.

Additional information about the Settlement can also be found at www.NielsenSecuritiesSettlement.com