{"id":387826,"date":"2020-11-24T10:18:26","date_gmt":"2020-11-24T15:18:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387826"},"modified":"2020-11-24T10:18:26","modified_gmt":"2020-11-24T15:18:26","slug":"the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-hp-inc-hpq-investors-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-hp-inc-hpq-investors-2\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of HP Inc. (HPQ) Investors"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n LOS ANGELES<\/span>, Nov. 24, 2020<\/span> \/PRNewswire\/ —\u00a0The Law Offices of Frank R. Cruz<\/span><\/a> announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired HP Inc. (“HP” or the “Company”) (NYSE: HPQ) common stock between November 6, 2015<\/span> and June 21, 2016<\/span><\/b>, inclusive (the “Class Period”). HP investors have until January 4, 2021<\/span><\/b>to file a lead plaintiff motion. <\/p>\n

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\n <\/a>\n <\/p>\n<\/p><\/div>\n

If you are a shareholder who suffered a loss, click here<\/a> to participate.<\/p>\n

On June 21, 2016<\/span>, after the market closed, HP revealed that it would reduce its Supplies channel inventory by $450 million<\/span>, resulting in a corresponding reduction of $450 million<\/span> in Supplies revenue over the remainder of 2016.\u00a0 <\/p>\n

On this news, HP’s stock price fell $0.72<\/span>, or 5.4%, to close at $12.61<\/span> per share on June 22, 2016<\/span>.<\/p>\n

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that HP’s channel inventory management and sales practices resulted in the sale of supplies to customers that did not need or want the product in order to artificially increase revenues and profits; (2) that HP’s channel inventory management and sales practices resulted in the sale of supplies to customers outside of designated regions at unsustainable discounts in order to artificially increase revenues and profits; (3) that HP’s channel inventory management and sales practices resulted in the sale of supplies at steep discounts to customers to encourage those customers to sell the supplies further down the supply channel, out of HP’s inventory management metrics; and (4) that, as a result of the foregoing, defendants’ statements about the Company’s business condition and prospects were materially false and misleading when made.<\/p>\n

Follow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.<\/p>\n

If you purchased HP securities during the Class Period, you may move the Court no later than January 4, 2021<\/span><\/b>to ask the Court to appoint you as lead plaintiff.\u00a0 To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.\u00a0 If you purchased HP securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz<\/span>, of The Law Offices of Frank R. Cruz<\/span>, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California<\/span> 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. \u00a0If you inquire by email please include your mailing address, telephone number, and number of shares purchased.<\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-hp-inc-hpq-investors-301178710.html<\/a><\/p>\n

SOURCE The Law Offices of Frank R. Cruz<\/span>, Los Angeles<\/span><\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire LOS ANGELES, Nov. 24, 2020 \/PRNewswire\/ —\u00a0The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired HP Inc. (“HP” or the “Company”) (NYSE: HPQ) common stock between November 6, 2015 and June 21, 2016, inclusive (the “Class Period”). HP investors have until January 4, 2021to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On June 21, 2016, after the market closed, HP revealed that it would reduce its Supplies channel inventory by $450 million, resulting in a corresponding reduction of $450 million in Supplies revenue over the remainder of 2016.\u00a0 On … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of HP Inc. (HPQ) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387826","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of HP Inc. 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(“HP” or the “Company”) (NYSE: HPQ) common stock between November 6, 2015 and June 21, 2016, inclusive (the “Class Period”). HP investors have until January 4, 2021to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On June 21, 2016, after the market closed, HP revealed that it would reduce its Supplies channel inventory by $450 million, resulting in a corresponding reduction of $450 million in Supplies revenue over the remainder of 2016.\u00a0 On … Continue reading "The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of HP Inc. 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