IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) announces the filing of a securities class action lawsuit against Lexmark International Inc. (“Lexmark” or the “Company”) (NYSE: LXK). Investors who purchased or otherwise acquired shares between August 1, 2014 and July 20, 2015, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the September 19, 2017 lead plaintiff motion deadline.
If you purchased Lexmark shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
The Complaint alleges that during the Class Period, Lexmark made materially false and/or misleading statements, and/or failed to disclose, that: end-user demand and growth for the Company’s supplies business was deteriorating; that pricing increases were the primary driver of supplies revenue growth, not end-user demand; that customers in the supplies channel reacted by buying ahead of anticipated pricing increases; and that as a result, there were excessive inventory levels at its European wholesale distributors.
On July 21, 2015, Lexmark reported poor results for its second quarter ending June 30, 2015 and lowered its 2015 sales guidance. The Company revealed its supplies growth was not attributable to end-user demand but rather the result of its European customers buying ahead of customary price increases which produced excessive inventory. Following this news, Lexmark’s stock price dropped materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esquire, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.
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