Vodafone Group Public Limited Company : American Depositary Shares Securities Litigation
On or around 03/23/2018 (Court's order of dismissal)
Filing Date: January 18, 2018
According to the law firm press release, 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.
This case was voluntarily dismissed on March 22, 2018.
Company & Securities Information
Defendant: Vodafone Group Public Limited Company
Industry: Communications Equipment
Headquarters: United Kingdom
Ticker Symbol: VOD
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Charles Ferrare, et al. v. Vodafone Group Public Limited Company, et al.