LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Zebra Technologies Corporation (“Zebra” or the “Company”) (Nasdaq: ZBRA) for violations of federal securities laws.
Investors who purchased the Company’s shares between March 17, 2015 and May 9, 2016, inclusive (the “Class Period”), are encouraged to contact the firm before September 25, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Zebra issued materially false and misleading statements and/or failed to disclose adverse information about its business, prospects and financial results. Specifically, the Company failed to disclose that it understated its income taxes through the end of 2015, under accrued certain 2015 estimates, in particular with respect to its sales commission plan, and overstated the net realizable value of trade receivables acquired in connection with its acquisition of Motorola’s Enterprise division. Zebra also failed to disclose the impact of material weaknesses identified in its internal controls and procedures over financial reporting and disclosure, which caused the misstatements and rendered the Company’s financial guidance for 2015 and the first and second quarters of 2016 materially false and misleading. On May 10, 2016, Zebra announced disappointing financial results for its first quarter of 2016, stating that “first quarter results [were] below…expectations, with lower sales and earnings reflecting the continuation of a cautious enterprise spending environment.” On the same day, the Company filed its quarterly report on Form 10-Q with the U.S. Securities & Exchange Commission for the first quarter of 2016, which confirmed that Zebra found defects in its internal controls in 2015 that had impaired its ability to accurately forecast its pretax income and deferred taxes. Following this news, Zebra’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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