Neustar Inc (NYSE: NSR) Investor Securities Class Action Lawsuit 07/15/2014

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Company Name(s): 
Neustar
Case Name: 
Neustar Shareholder Class Action Lawsuit 07/15/2014
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Approved
Affected Securities
NYSE: NSR
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/15/2014
Class Period Begin: 
04/19/2013
Class Period End: 
06/06/2014
Court of Filing: 
U.S. District Court for the Eastern District of Virginia
Deadline To File for Lead: 
09/15/2014
Date Settled: 
09/22/2015
Settlement Amount: 
$2,625,000
Deadline to Participate in Settlement: 
02/03/2016
Settlement Notice: 
Settlement Proof: 
Summary: 

December 3, 2015 - The court held a final settlement hearing and approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.

September 22, 2015 - The court preliminarily approved the settlement.

August 6, 2015 - Parties filed a stipulation of settlement.

May 28, 2015 - The U.S. Court of Appeals for the Fourth Circuit remanded the appeal to the U.S. District Court for the Eastern District of Virginia.

February 25, 2015 - The lead plaintiff filed a notice of appeal.

January 27, 2015 - The court granted the defendants motion to dismiss and dismissed the case with prejudice.

December 5, 2014 - Defendants filed a motion to dismiss.

November 6, 2014 - The lead plaintiff filed an amended consolidated complaint.

October 7, 2014 - The lead plaintiff and lead counsel were appointed.

September 9, 2014 - Lead counsel motions were filed.

July 14, 2014 - An investor in shares of Neustar Inc (NYSE: NSR) filed a lawsuit in the U.S. District Court for the Eastern District of Virginia against Neustar Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 19, 2013 and June 6, 2014.

According to the complaint the plaintiff alleges on behalf of purchasers of Neustar Inc (NYSE: NSR) common shares between April 19, 2013 and June 6, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between April 19, 2013 and June 6, 2014, Neustar Inc allegedly misrepresented and concealed its ability to maintain a critical series of contracts with a telecommunications industry group known as North American Portability Management LLC and that when the truth regarding Neustar Inc’s ability to maintain the contracts was revealed, the price of Neustar Inc (NYSE: NSR) stock fell approximately $11 per share.

Neustar Inc reported that its annual Total Revenue rose from $831.39 million in 2012 to $902.04 million in 2013 and that its respective Net Income increased from $156.09 million to $162.75 million.

Shares of Neustar Inc (NYSE: NSR) grew from $30.40 per share in June 2012 to as high as $56.51 per share in August 2013.

Since then Neustar Inc (NYSE: NSR) shares lost substantial value. In fact Neustar Inc (NYSE: NSR) shares declined from over $56 per share in August 2013 to as low as $24.14 per share in June 2014.

On July 15, 2014, Neustar Inc (NYSE:NSR) shares closed at $26.89 per share.