NEW YORK, April 06, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of Pearson plc securities (NYSE:PSO) from January 21, 2016 through January 17, 2017, inclusive (the “Class Period”) of the important April 25, 2017 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Pearson investors under the federal securities laws.
To join the Pearson class action, go to http://rosenlegal.com/cases-1072.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that defendants during the Class Period 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. On January 18, 2017, Pearson revealed 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% to close at $7.13 per share on January 18, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 25, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1072.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.