The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Vodafone Group Public Limited Company (NASDAQGS: VOD) who purchased shares between February 11, 2015 and January 11, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that Vodafone had contravened Australian law by permitting customers to purchase pre-paid mobile phones without first verifying their identities.
On January 10, 2018, the Australian Communications and Media Authority (“ACMA”) issued a press release disclosing that, following an investigation into Vodafone Australia, it determined that the Company had “failed to verify the identity of at least 1,028 customers before activating their prepaid mobile services.” Upon this news, Vodafone ADRs declined from a closing price of $32.60 on January 9, 2018, to a closing price of $31.44 on January 11, 2018.
Shareholders have until March 20, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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