LOS ANGELES, Aug. 22, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Lexmark International, Inc. (“Lexmark” or the “Company”) (NYSE:LXK) concerning possible violations of federal securities laws between August 1, 2014 and July 20, 2015, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the September 19, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may choose to do nothing and be an absent class member as well.
According to the Complaint, throughout the Class Period, Lexmark made materially false and/or misleading statements, and/or failed to disclose, that: end-user demand and growth for the Company’s supplies business was deteriorating; that pricing increases were the primary driver of supplies revenue growth, not end-user demand; that customers in the supplies channel reacted by buying ahead of anticipated pricing increases; and that as a result, there were excessive inventory levels at its European wholesale distributors. On July 21, 2015, Lexmark reported poor results for its second quarter ending June 30, 2015 and lowered its 2015 sales guidance. The Company revealed its supplies growth was not attributable to end-user demand but rather the result of its European customers buying ahead of customary price increases which produced excessive inventory. Following this news, shares of Lexmark dropped in value materially, which caused investors harm according to the Complaint.
Lundin Law PC was established by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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