Attention investors who purchased shares of Quad/Graphics, Inc. between February 21, 2018 and October 29, 2019:
Rigrodsky & Long is investigating claims brought in a securities fraud class action complaint against Quad/Graphics, Inc. ("Quad") concerning whether Quad and certain of the Company's directors and/or officers made materially false and misleading statements and failed to disclose materially adverse facts during the period February 21, 2018 and October 29, 2019, inclusive (the "Class Period"), concerning Quad's business, operations and prospects. These misrepresentations and omissions artificially inflated the price of Quad's stock throughout the Class Period.
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Quad/Graphics, Inc. (“Quad” or the “Company”) (NYSE: QUAD) between February 21, 2018 and October 29, 2019, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Quad during the Class Period, or purchased shares prior to the Class Period and still hold Quad, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Seth D. Rigrodsky or Timothy J. MacFall at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at firstname.lastname@example.org, or at http://rigrodskylong.com/contact-us/.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company’s book business in United States was underperforming; (2) as a result, the Company was likely to divest its book business; (3) the Company was unreasonably vulnerable to decreases in market prices; (4) to remain financially flexible while market prices decreased, the Company was likely to cut its quarterly dividend and expand its cost reduction programs; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on October 29, 2019, after the market closed, the Company slashed its quarterly dividend to $0.15 per share, announced plans to divest its book business, and reported third quarter 2019 financial results. Analysts were “absolutely shocked by these developments given the confidence management had just three months ago.”
On this news, shares of Quad fell over 56%, closing at $4.85 per share on October 30, 2019, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than January 6, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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