A lawsuit was filed on behalf of investors in HP Inc. (NYSE:HPQ) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/19/2020 -- An investor, who purchased shares of HP Inc. (NYSE: HPQ), filed a lawsuit over alleged violations of Federal Securities Laws by HP Inc.
Investors who purchased shares of HP Inc. (NYSE: HPQ) have certain options and for certain investors are short and strict deadlines running. Deadline: January 4, 2021. NYSE: HPQ investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
HP Inc. began operations after spinning off from Hewlett Packard Enterprise Company ("HPE") on or about November 1, 2015. Following the spinoff, HP Inc. operated the Printing and Personal Systems businesses, while Hewlett Packard Enterprise Company retained the enterprise technology infrastructure, software, services, and financing businesses. Within HP's Printing segment is the Supplies division, which consists of printing and computing supplies, such as toner, ink cartridges, and related printing supplies. Nearly 80% of HP Inc.'s operating profit was derived from its Printing business during the Class Period.
On June 21, 2016, HP Inc. announced an overhaul to its Printing sales model and revealed that it would reduce its Supplies channel inventory by $450 million, resulting in a corresponding reduction of $450 million in Supplies revenue over the remainder of 2016.
Shares of HP Inc. (NYSE: HPQ) declined from $13.90 per share in early June 2016 to as low as $11.48 per share on June 27, 2016.
The plaintiff claims that between November 6, 2015 and June 21, 2016, the defendants misrepresented HP's business and financial condition by issuing false and misleading statements regarding HP's financial performance and, in particular, its revenue, profit margin, and earnings, that the defendants provided positive financial results for HP, but misrepresented and omitted to state that HP's Supplies channel inventory management and sales practices had resulted in increased channel inventory and decreased revenues and profits, and that as a result of defendants' false statements and omissions, the price of HP stock was artificially inflated to a high of more than $14 per share between November 6, 2015 and June 21, 2016.
Those who purchased shares of HP Inc. (NYSE: HPQ) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.