Nielsen settles investor fraud claims for $73 mln

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(Reuters) – Nielsen Holdings Plc has agreed to pay $73 million to settle shareholders’ statements that the Tv set rankings corporation misled investors about its retail analytics business and the influence of European privacy rules.

Buyers on Tuesday asked U.S. District Decide Jesse Furman in Manhattan to approve the deal. They experienced appear to a private settlement with the business in late February, in accordance to court docket filings.

Attorneys for Nielsen did not straight away answer to requests for remark on Monday. The business did not admit to the allegations as section of the settlement.

The proposed offer arrives a day immediately after the Wall Street Journal noted that a consortium of personal fairness corporations such as Elliott Administration Corp is in talks to invest in Nielsen for about $15 billion including personal debt.

Shareholders sued in 2018, alleging the corporation had made misstatements about the power of its retail analytics enterprise.

They also accused the business of downplaying how the European Union’s General Facts Defense Regulation, which restricts how corporations can share consumers’ personalized facts, would effects its viewership analytics enterprise.

Nielsen offered its retail information device in 2020 for $2.7 billion to sharpen focus on its media small business.

The scenario is In Re: Nielsen Holdings Plc Securities Litigation, U.S. District Court docket, Southern District Of New York, No. 18-cv-07143.

For Nielsen: Paul Curnin, Craig Waldman and Tyler Anger of Simpson Thacher & Bartlett

For traders: Carol Villegas of Labaton Sucharow and Shawn Williams of Robbins Geller Rudman & Dowd

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Consortium like Elliott in talks to get Nielsen for $15 bln – WSJ

Nielsen to provide customer products facts arm to Advent for $2.7 billion

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