NEW YORK, April 06, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Pearson plc (“Pearson” or the “Company”) (NYSE:PSO) of the April 25, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Pearson plc stock or options between January 21, 2016 and January 17, 2017 (the “Class Period”). The case, Chupka v. Pearson plc et al, No. 17-cv-01422 was filed on February 24, 2017, and has been assigned to Judge Richard J. Sullivan.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by misrepresenting the future financial state of its U.S. education business through overly optimistic projections for years 2017 and 2018.
Specifically, in a press release published on January 18, 2017, Pearson announced that it would restructure its operative profit guidance for 2017 and 2018 due to an unprecedented decline in Q4 2016 in the Company’s North American higher education courseware business. The company also announced that it would rebase its dividend from 2017 onwards.
After the announcement, Pearson’s share price fell from $9.99 per share on January 17, 2017 to a closing price of $7.13 on January 18, 2017—a $2.86 or a 28.6% drop.
Request more information now by clicking here: www.faruqilaw.com/PSO. There is no cost or obligation to you.
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You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Pearson’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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