|Company name||Quad/Graphics, Inc.|
|Status||Class Action Complaint Filed|
NEW YORK, January 2, 2020– Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Quad/ Graphics, Inc. (NYSE: QUAD) securities between February 21, 2018 and October 29, 2019 (the “Class Period”). Investors have until January 6, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On October 29, 2019, 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, the Company’s stock price fell $6.42 per share, or nearly 57%, to close at $4.85 per share on October 30, 2019.
The complaint, filed on November 7, 2019, alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the Company’s book business in the 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.
If you purchased Quad/Graphics securities during the class period, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.