Is This A Negative SEO Campaign

Lately, I've noticed about 25 websites a month popping up, using some text copied from my client's sites and mentioning the company & CEO's name as keywords. The text attracts readers to click the link to read more, bringing them to a pornsites.
There are also other blog posts with the company name and CEO name that appear in the snippet and, when clicked, show a page of hundreds of words ...random sentences.

I've heard about Negative SEO and would like to know if this is what it might be. If it is, is there anything to do about it? Thank you