NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Quad/Graphics, Inc. (“Quad” or the “Company”) (NYSE: QUAD) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Quad from February 21, 2018 and October 29, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Quad investors under the federal securities laws.
The Complaint alleged that Defendants failed to disclose to investors: (1) that the Company’s book business in United States was underperforming; (2) that, as a result, the Company was likely to divest its book business; (3) that the Company was unreasonably vulnerable to decreases in market prices; (4) that, 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) that, 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.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the January 6, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected]
Please visit our website at http://www.gme-law.com for more information about the firm.
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