A market research company’s shareholder is suing for what he describes as misleading statements relating to its preparation for complying with the General Data Protection Regulation (GDPR).
Arun Bhattacharya is taking legal action against Nielsen Holdings plc as well as its chief executive and chief financial officer, according to MrWeb.
Legal news site Strategic Legal said the case was significant because the plaintiff is not alleging that the legislation itself was violated but that inaccurate statements were made about the company’s readiness for it.
The complaint claims that from February to July this year, Nielsen and its chief executive and chief financial officer “intentionally made false and misleading statements regarding the potential impact of the new law on the company, the state of its preparations, and specifically whether GDPR would affect Nielsen's access to the third-party data on which it relies”.
Bhattacharya also alleges that, although Nielsen made assurances it was ready for GDPR, it blamed the fact that it missed its 2018 financial estimates on the new European-wide legislation. The plaintiff draws attention to the slide in Nielsen’s share price in June this year when it dipped by more than a quarter, falling from a high of US$34 per share to US$22.11.
The action is pending in the US District Court for the Southern District of New York.
Gill Oliver is a business and property journalist who has written for The Daily Mail/Mail Online's This is Money, The Press Association and many national and regional newspapers and magazines.
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A market research company’s shareholder is suing for what he describes as misleading statements relating to its preparation for complying with the General Data Protection Regulation (GDPR).
Arun Bhattacharya is taking legal action against Nielsen Holdings plc as well as its chief executive and chief financial officer, according to MrWeb.
Legal news site Strategic Legal said the case was significant because the plaintiff is not alleging that the legislation itself was violated but that inaccurate statements were made about the company’s readiness for it.
The complaint claims that from February to July this year, Nielsen and its chief executive and chief financial officer “intentionally made false and misleading statements regarding the potential impact of the new law on the company, the state of its preparations, and specifically whether GDPR would affect Nielsen's access to the third-party data on which it relies”.
Bhattacharya also alleges that, although Nielsen made assurances it was ready for GDPR, it blamed the fact that it missed its 2018 financial estimates on the new European-wide legislation. The plaintiff draws attention to the slide in Nielsen’s share price in June this year when it dipped by more than a quarter, falling from a high of US$34 per share to US$22.11.
The action is pending in the US District Court for the Southern District of New York.
Gill Oliver is a business and property journalist who has written for The Daily Mail/Mail Online's This is Money, The Press Association and many national and regional newspapers and magazines.
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Just over a third of US organisations are GDPR-compliant
