A lawsuit was filed on behalf of investors in Quad/Graphics, Inc. (NYSE: QUAD) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/03/2019 -- An investor, who purchased shares of Quad/Graphics, Inc. (NYSE: QUAD), filed a lawsuit over alleged violations of Federal Securities Laws by Quad/Graphics, Inc.
Investors who purchased shares of Quad/Graphics, Inc. (NYSE: QUAD) have certain options and for certain investors are short and strict deadlines running. Deadline: January 6, 2020. NYSE: QUAD investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On October 29, 2019, Quad/Graphics, Inc revealed, in connection with reporting its third quarter 2019 financial results, that Quad/Graphics, Inc had cut its dividend in half to $0.15 per share. Quad/Graphics, Inc also announced plans to divest its book business and updated its guidance to reflect the divestiture of its book business that the Company said generates $200 million in annual sales. Quad/Graphics' net sales guidance for 2019 was thus reduced to "approximately $3.9 billion" from the previous range of "$4.05 billion to $4.25 billion."
Shares of Quad/Graphics, Inc. (NYSE: QUAD) declined from $31.14 per share in February 2018 to as low as $4.10 per share on November 6, 2019.
The plaintiff claims that between February 21, 2018 and October 29, 2019, the Defendants failed to disclose to investors that the Company's book business in United States was underperforming, that, as a result, the Company was likely to divest its book business, that the Company was unreasonably vulnerable to decreases in market prices, that, to remain financially flexible while market prices decreased, the Company was likely to cut its quarterly dividend and expand its cost reduction programs, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Quad/Graphics, Inc. (NYSE: QUAD) have certain options and should contact the Shareholders Foundation.
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