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HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Quad/Graphics (QUAD) Investors to Contact Its Attorneys, Securities Fraud Class Action Filed
SAN FRANCISCO, Nov. 8, 2019
SAN FRANCISCO, Nov. 8, 2019 /PRNewswire/ -- Hagens Berman urges Quad/Graphics, Inc. (NYSE: QUAD) investors who have suffered significant losses to submit their losses now or contact the firm immediately to learn if they qualify to recover compensable damages. A securities fraud class action was recently filed on behalf of certain QUAD investors against the company and senior executives.
Quad/Graphics (QUAD) Securities Class Action:
The Complaint alleges Defendants misled investors by concealing the underperformance of the company's U.S. book business, that it was likely to divest that business, and that the company's business was highly vulnerable to market price decreases, which in turn required a dividend cut.
On Oct. 29, 2019, Quad/Graphics announced a surprising $126 million net loss in 2019 (a year-over-year earnings decline of nearly 650%), divestment of its book business, reduced dividends, and slashed guidance. In downgrading the stock, one Buckingham analyst exclaimed, "We are absolutely shocked by these developments given the confidence management had just three months ago."
This news sent the price of Quad/Graphics shares down $6.42, or down about 57%, on October 30, 2019.
If you invested in Quad/Graphics between Feb. 21, 2018 and Oct. 29, 2019 (the "Class Period") and suffered significant losses, you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff.
"We're focused on recovering investors' substantial losses and holding Quad/Graphics and its senior management accountable for their alleged fraud," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Quad/Graphics and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Quad/Graphics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email QUAD@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP