Pitney Bowes Inc. Shareholder Files Lawsuit

If you purchased common stock of Pitney Bowes Inc. (NYSE:PBI) between July 30, 2007 and October 29, 2007, you have certain options and there are strict and short deadlines running. Deadline: December 23, 2009. Those PBI investors and current long term investors, who purchased their PBI shares before July 30, 2007, should contact the Shareholders Foundation.

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): 
Pitney Bowes
Case Name: 
Pitney Bowes Shareholder Class Action Lawsuit
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: PBI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/23/2009
Class Period Begin: 
07/30/2007
Class Period End: 
12/29/2007
Court of Filing: 
United States District Court for the District of Connecticut
Deadline To File for Lead: 
12/23/2009
Summary: 

An investor in Pitney Bowes Inc. (Public, NYSE:PBI) filed a lawsuit in the United States District Court for the District of Connecticut on behalf of purchasers of the common stock of Pitney Bowes Inc. ("Pitney Bowes") (NYSE:PBI) between July 30, 2007 and October 29, 2007, over alleged violations of Federal Securities Laws by Pitney Bowes and others.

According to the complaint the plaintiff alleges that Pitney Bowes and certain officers of Pitney Bowes violated the Securities Exchange Act of 1934 by issuing between July 30, 2007 and October 29, 2007 numerous positive statements regarding Pitney Bowes financial condition, business and prospects, that were inaccurate statements of material fact when made because defendants failed to disclose material facts. Then on October 29, 2007, Pitney Bowes held a conference call with analysts and investors to discuss Pitney Bowes earnings and operations. During the conference call, so the lawsuit, defendants admitted that a host of factors caused Pitney Bowes to drastically miss the earnings they had promised and in response to Pitney Bowes announcement, the price of Pitney Bowes common stock PBI declined from $42.68 per share to $36.27 per share on extremely heavy trading volume.

Pitney Bowes Inc., located in Stamford, CT, is a provider of mail processing equipment and integrated mail solutions. The Company offers a range of equipment, supplies, software and services for end-to-end mailstream solutions, which enable its customers to optimize the flow of physical and electronic mail, documents and packages across their operations. Pitney Bowes Inc reported in 2007 Total Revenue of $6.1298billion with a Net Income of $366.78million and in 2008 Total Revenue of $6.26231billion with a Net Income of $419.79million. Pitney Bowes Inc shares PBI recently traded at $24.48 per share, down from its 52weekHigh of $27.46 per share, $36.60 per share in September ’08, $38.14 per share in May ’08, $45.26 per share in October ’07, and $48.34 per share in April 2007.