Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Pearson, plc. (“Pearson”) (NYSE: PSO) shares, or American Depositary Receipts (“ADRs”), between January 21, 2016 and January 17, 2017, both dates inclusive (the "Class Period").
Pearson, plc. investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, Pearson is an international education company with its principal operation in the education and consumer publishing markets. Pearson is in the business of coming up with and managing intellectual property, which it sells to customers under well-known brand names. The content is delivered to customers through a variety of mediums which include books and online services. Pearson also offers test creation, administration, and processing to teacher development and school software. Pearson’s largest markets are the United States and Europe, respectively.
The Class Period commences on January 21, 2016 when the company filed a trading statement on Form 6-K with the SEC for the month of January 2016.
The complaint alleges that, on January 18, 2017, the company issued a trading statement on Form 6-K with the SEC for the month of January 2017, wherein the company announced that it was not going to meet its 2018 projections.
Following this news, Pearson’s stock price fell from a closing price of $9.99 per share on January 17, 2017 to $7.13 per share on January 18, 2017, a drop of approximately 29%.
The complaint alleges that, throughout the Class Period, the defendants made overly optimistic projections for 2017 and 2018 regarding its U.S. education business when, in reality, students were not likely to purchase Pearson’s products when more affordable alternatives were available, resulting in an excess of unsold products. Therefore, as a result of choosing unrealistic future goals that it could never achieve, Pearson’s statements were materially false and/or misleading.
If you are a member of the class described above, you may no later than April 25, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will will adequatley represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7704 (toll free) or 1-610-667-7706
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