LOS ANGELES–(BUSINESS WIRE)–$HPQ #HPQ—The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HP Inc. (“HP” or “the Company”) (NYSE: HPQ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between February 23, 2017 and October 3, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before April 20, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. HP lacked telemetry data from commercial printers and had to rely on stagnant and inaccurate market share data to develop assumptions for its four-box model. The lack of solid data was a serious weakness for the commercial printing business because the Company knew from its personal printing division how important accurate data is. Based on this critical weakness, the Company exceeded demand in the supply chain by at least $100 million, grossly inflating its supplies revenue. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about HP, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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