Lexmark International Inc (NYSE:LXK) Investor Securities Class Action Lawsuit 07/20/2017

If you purchased a significant amount of shares of Lexmark International Inc (NYSE:LXK) between August 1, 2014 and July 20, 2015, and / or if you purchased any NYSE:LXK shares prior to August 2014 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: September 19, 2017. NYSE:LXK investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Lexmark
Case Name: 
Lexmark Shareholder Class Action Lawsuit 07/20/2017
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: LXK
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/20/2017
Class Period Begin: 
08/01/2014
Class Period End: 
07/20/2015
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
09/19/2017
Summary: 

July 20,2017 (Shareholders Foundation) - An investor in shares of Lexmark International Inc (NYSE:LXK) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Lexmark International in connection with certain allegedly false and misleading statements made between August 1, 2014 and July 20, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Lexmark International Inc (NYSE:LXK) common shares between August 1, 2014 and July 20, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 1, 2014 and July 20, 2015, the Defendants' statements pertaining to the Company's profitability and growth prospects were materially false and misleading because Defendants failed to disclose that end-user demand and growth for the Company's supplies business was deteriorating, that pricing increases were the primary driver of supplies revenue growth, not end-user demand, that customers in the supplies channel reacted by buying ahead of anticipated pricing increases and that as a result there was excessive inventory levels at its European wholesale distributors.

On July 21, 2015, Lexmark International Inc reported results for its second quarter ending June 30, 2015 and lowered its 2015 sales guidance.

The plaintiff alleges that is was at that time when Lexmark International Inc ultimately revealed its supplies growth was not attributable to end-user demand but rather the result of its European customers buying ahead of customary price increases which produced excessive inventory.

Shares of Lexmark International Inc dropped $9.57 per share, or 20.2 percent, to close at $37.75 per share on July 21, 2015.