SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Class Action Against Lexmark International, Inc. (LXK) & Lead Plaintiff Deadline: September 19, 2017

NEW YORK, July 31, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Lexmark International, Inc. ("Lexmark" or the "Company") (NYSE:LXK) and certain of its officers, on behalf of shareholders who purchased Lexmark securities between August 1, 2014 and July 20, 2015, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/lxk.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934. 

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding its end-user demand, channel inventory, and growth prospects for its high-margin supplies business. Specifically the complaint alleges that Lexmark continually advertised the profitability and growth of its high-margin supplies business and failed to disclose that: (1) end-user demand and growth for its supplies business was deteriorating; (2) pricing increases were the primary driver of supplies revenue growth, not end-user demand; (3) customers in the supplies channel reacted by buying ahead of anticipated pricing increases; and (4) consequently, there was excessive inventory levels at its European wholesale distributors.

On July 21, 2015, Lexmark revealed poor financial and operating results for its second quarter of 2015 and lowered its full-year 2015 sales guidance, citing lower-than-expected supplies revenue from its European wholesale distributors. The company also said that it was enduring “ongoing headwinds from the strong U.S. dollar and near-term laser supplies channel optimization.”  Following this news, Lexmark stock dropped $9.57 per share, or 20.2%, to close at $37.75 on July 21, 2015.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/lxk or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Lexmark you have until September 19, 2017 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

 

Contact:
                    Bronstein, Gewirtz & Grossman, LLC
                    Peretz Bronstein or Yael Hurwitz 
                    212-697-6484 | info@bgandg.com