IRVINE, Calif., Aug. 03, 2017 (GLOBE NEWSWIRE) -- Khang & Khang LLP (the “Firm”) announces the filing of a securities class action lawsuit against Zebra Technologies Corporation (“Zebra” or the “Company”) (Nasdaq:ZBRA). Investors who purchased or otherwise acquired shares between March 17, 2015 and May 9, 2016, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the September 25, 2017 lead plaintiff motion deadline.
If you purchased Zebra shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Zebra issued materially false and/or misleading statements and/or failed to disclose adverse information about its business, prospects and financial results. The Company failed to disclose that it understated its income taxes through the end of 2015, under accrued certain 2015 estimates, in particular with respect to its sales commission plan, and overstated the net realizable value of trade receivables acquired in connection with its acquisition of Motorola’s Enterprise division. Zebra also failed to disclose the impact of material weaknesses identified in its internal controls and procedures over financial reporting and disclosure, which caused the misstatements and rendered the Company’s financial guidance for 2015 and the first and second quarters of 2016 materially false and misleading.
On May 10, 2016, Zebra announced disappointing financial results for its first quarter of 2016, stating that “first quarter results [were] below…expectations, with lower sales and earnings reflecting the continuation of a cautious enterprise spending environment.” On the same day, the Company filed its quarterly report on Form 10-Q with the SEC for the first quarter of 2016, which confirmed that Zebra found defects in its internal controls in 2015 that had impaired its ability to accurately forecast its pretax income and deferred taxes. When this news was announced, shares of Zebra declined in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions regarding this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
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