NEW YORK, March 7, 2017 /PRNewswire/ -- Kaplan Fox
& Kilsheimer LLP (www.kaplanfox.com) is investigating claims on
behalf of investors of Pearson, plc. ("Pearson" or the "Company")
(NYSE: PSO).
A class action complaint has been filed in the United States
District Court for the Southern District of New York against Pearson and certain officers
of the Company on behalf of investors who purchased or otherwise
acquired Pearson American Depositary Receipts ("ADRs") between
January 21, 2016 and January 17, 2017, inclusive (the "Class"),
alleging violations of the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Pearson
and certain of its officers and directors made materially false and
misleading statements regarding the Company's business, operational
and compliance policies. Specifically, Defendants made overly
optimistic projections for 2017 and 2018 regarding the 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.
The complaint further alleges that on January 18, 2017, Pearson announced that "[t]he
North American higher education courseware market was much weaker
than expected" and that it was "withdrawing [its] operating
profit goal for 2018." According to the complaint, following
this news, Pearson's ADRs fell from a closing price of $9.99 per share on January
17, 2017 to $7.13 per ADR on
January 18, 2017, a drop of
approximately 29%.
If you are a member of the proposed Class, you may move the
court no later than April 25, 2017 to
serve as a lead plaintiff for the purported class. You need
not seek to become a lead plaintiff in order to share in any
possible recovery. If you would like to discuss the complaint
or our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Hae Sung Nam
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: hnam@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP