SAN DIEGO & PALO ALTO, Calif.–(BUSINESS WIRE)–$HPQ #ClassAction–Shareholder rights law firm Robbins LLP announces that it is investigating HP Inc. (NASDAQ: HPQ) for alleged violations of the Securities Exchange Act of 1934 and whether the Company’s officers and directors breached their fiduciary duties to shareholders. HP provides personal computing and other access devices, printing products, and related technologies and services.
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HP Inc. (HPQ) Reveals Disappointing Total Supplies Revenue
On June 21, 2016, HP announced a one-time investment of $450 million to buy back supplies from its channel partners to better align supplies inventory levels with demand. Consequently, HP adopted a new approach centered on a “four-box model,” assuring investors it would improve managing and aligning to demand and avert the problems that necessitated the $450 million buy-back. Then, on February 27, 2019, HP reported disappointing total supplies revenue for first quarter 2019, revealing that its four-box model lacked telemetry data to make reliable market share assumptions. Finally, on October 3, 2019, HP announced that it was moving away from using the four-box model to a model that de-emphasized supplies revenue and would be cutting up to 16% of its global workforce as part of the restructuring. On this news, HP’s stock price fell nearly 10% to close at $16.64 per share.
HP Inc. (HPQ) Shareholders Have Legal Options
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