Shareholder rights law firm Robbins LLP announces that it is investigating HP Inc. 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.
If you suffered a loss as a result of HP's misconduct, click here.
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
Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
Shareholder Information Form
Want to be notified if a class action against HP settles? Want to receive free alerts about companies engaged in wrongdoing? Sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200604005733/en/
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.