Law Firm Announces the Filing of a Securities Class Action Citing Lack of GDPR Preparation

In what appears to be a first, a law firm announces a securities class action lawsuit for among other things the failure to prepare for and comply with the GDPR.  The firm in its announcement describes the compliant.  Among other things the complaint alleges that “throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Nielsen recklessly disregarded its readiness for and the true risks of privacy-related regulations and policies, including the European General Data Protection Regulation (“GDPR”), on its current and future financial and growth prospects; (ii) Nielsen’s financial performance was far more dependent on Facebook and other third-party large data set providers than previously disclosed and privacy policy changes affected the scope and terms of access Nielsen would have to third-party data; (iii) access to Facebook and other third-party provider data was becoming increasingly restricted for Nielsen and Nielsen clients; and (iv) as a result, Nielsen’s public statements were materially false and misleading at all relevant times.”