WELLINGTON, Fla., Nov. 18, 2019 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action Experience, including cases against ENRON and Halliburton) reminds investors that they have until January 6, 2020 to contact the Firm to learn more about the class action filed against Quad/Graphics, Inc. (NYSE:QUAD) (“Quad”) and appointment and qualifications to be considered for the role of lead plaintiff.
According to the lawsuit, Quad materially misled the investing public regarding its financial strength during the Class Period of February 21, 2018 and October 29, 2019, thereby overvaluing and inflating the price of Quad’s securities. Such misstatements had the cause and effect of creating in the market an unrealistically positive assessment of Quad and its financial well-being and prospects, thus resulting in investors purchasing Quad’s securities at inflated prices.
Specifically, it is alleged in the lawsuit, in part, that Quad failed to disclose to investors that the Company’s book business in the United States was in fact underperforming, and that to remain financially flexible while market prices decreased, the Company was likely to cut is quarterly dividend and expand its cost reduction programs. On October 29, 2019, the Company slashed its quarterly dividend by 50% and reported third quarter financial results. On this news, the Company’s share price fell nearly 57% to close at $4.85 per share on October 30, 2019. Today it is trading for under $3.90.
If you’ve suffered damages from investing in Quad and would like to discuss your options, including petitioning the court for a leadership position, you may, without obligation or cost, contact Anthony Barbuto, at (888) 715-2520 or via email at anthony@barjolaw.com; or Neil Rothstein at (330) 860-4092 or email at neil@barjolaw.com.
BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir. 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
www.barjolaw.com