NEW YORK, Dec. 4, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Naspers Limited ("Naspers" or the "Company") (OTC-PINK: NPSNY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Naspers and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 1, 2017, the Company reported that its wholly-owned television unit MultiChoice had initiated an investigation into whether improper payments were made to ANN7, a South African news channel owned by the politically-connected Gupta family. According to local media, citing leaked emails, MultiChoice substantially increased its annual payment to ANN7 from 50 million rand to 141 million rand ($10 million) over the past two years.
On this news, Naspers' American Depositary Receipt price fell $3.05, or 5.58%, to close at $51.60 on December 1, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP