NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until April 20, 2020 to file lead plaintiff applications in a securities class action lawsuit against HP Inc. (NYSE: HPQ), if they purchased the Company’s shares between February 23, 2017 and October 3, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of HP and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-hpq/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 20, 2020.
About the Lawsuit
HP and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 3, 2019, the Company disclosed that it was abandoning its “four-box” business model, previously touted by the Company as an valuable tool to determine demand and revenue in its Supplies segment, turning instead to a hardware-driven business model that would de-emphasize Supplies revenue, as well as mass layoffs of between 7,000 to 9,000 positions, up to 16% of its global workforce, as a part of major restructuring.
On this news, the price of HP’s shares plummeted nearly 10%, on unusually high trading volume.
The case is Electrical Workers Pension Fund, Local 103, I.B.E.W. v. HP Inc., 3:20-cv-01260.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner