HP Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | HP Inc |
Stock Symbol : | NYSE: HPQ |
Class Period Start: | 02/23/2017 |
Class Period End: | 10/03/2020 |
Lead Plaintiff motion: | 04/20/2020 |
Date Filed: | 02/19/2020 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Northern District of California |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the April 20, 2020 lead plaintiff deadline in a class action lawsuit filed against HP Inc (NYSE: HPQ) (“HP” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased HP Inc securities between February 23, 2017 and October 3, 2019, have until April 20, 2020 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased HP Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that HP’s four-box model was severely deficient and not a strong predictor of Supplies demand and outcomes, because HP lacked telemetry data from its commercial printers and had to use unreliable and stagnant market share data to develop assumptions for the model; the lack of telemetry data for commercial printing was a critical shortcoming of the four-box model because HP possessed telemetry data on its personal printing side and knew it was a necessary element for an accurate understanding of the Supplies channel; as a result, the Supplies inventory in the Company’s channel exceeded demand by at least $100 million and HP’s Supplies revenue growth was grossly inflated; and accordingly, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. On October 3, 2019, the Company revealed that it was "departing from the purely transactional Supplies-centric business model" and moving away from using the four-box model, transitioning instead to a hardware-driven business model. In addition, the Company revealed mass layoffs as part of a major restructuring, in which it expected to cut between 7,000 to 9,000 positions, or up to 16% of its global workforce, over three years. Following this news, NYSE: HPQ fell $1.72, or nearly 10%, to close at $16.64, on unusually high trading volume. If you were negatively impacted by your investment in HP Inc securities between February 23, 2017 and October 3, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |