Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Quad/Graphics, Inc. who purchased shares between February 21, 2018 and October 29, 2019.
Quad/Graphics and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 29, 2019, the Company disclosed a cut to its dividend, in half to $0.15 per share, and its plans to divest its book business, which it stated generated $200 million in annual sales, with an accompanying reduction to 2019 net sales guidance to “approximately $3.9 billion” from the previous range of “$4.05 billion to $4.25 billion” to reflect the divestiture.
On this news, the price of Quad/Graphics’ shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 6, 2020 to request that the court appoint them lead plaintiff.