Cases
Pearson plc (NYSE: PSO)
Securities Class Action
Overview
Overview
- Date:
- 2/28/2017
- Company Name:
- Pearson plc
- Stock Symbol:
- PSO
- Class Period:
- FROM 1/21/2016 TO 1/17/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, February 28, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who acquired Pearson plc (NYSE: PSO) securities between January 21, 2016 and January 17, 2017 (the “Class Period”).
The complaint alleges that during the Class Period, the Company made materially false and/or misleading statements regarding the Company’s business, operational and compliance policies. In particular, the complaint alleges the Company made overly optimistic projections for 2017 and 2018 regarding its U.S. education business when, in reality, students were not likely to purchase the Company’s products when more affordable alternatives were available.
On January 18, 2017, Pearson issued a press release announcing that it no longer expected to achieve its operative profit guidance for 2018 as a result of “[t]he North American higher education courseware market being much weaker than expected” and that Pearson would “rebase” its dividend “from 2017 onwards.” Following this news, shares of Pearson fell approximately 29% on January 18, 2017, from a previous close of $9.99 to a close of $7.13 per share.
If you purchased or otherwise acquired Pearson securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that during the Class Period, the Company made materially false and/or misleading statements regarding the Company’s business, operational and compliance policies. In particular, the complaint alleges the Company made overly optimistic projections for 2017 and 2018 regarding its U.S. education business when, in reality, students were not likely to purchase the Company’s products when more affordable alternatives were available.
On January 18, 2017, Pearson issued a press release announcing that it no longer expected to achieve its operative profit guidance for 2018 as a result of “[t]he North American higher education courseware market being much weaker than expected” and that Pearson would “rebase” its dividend “from 2017 onwards.” Following this news, shares of Pearson fell approximately 29% on January 18, 2017, from a previous close of $9.99 to a close of $7.13 per share.
If you purchased or otherwise acquired Pearson securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.