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Pitney Bowes Inc (NYSE: PBI) Investor Securities Class Action Lawsuit 10/28/2009

  • If you purchased shares of Pitney Bowes Inc (NYSE: PBI), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Pitney Bowes Inc.
Security
NYSE: PBI

Case Name
Pitney Bowes Shareholder Class Action Lawsuit 10/28/2009
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

March 25, 2013 - The court granted the defendants' motion to dismiss and ordered the case closed.
March 12, 2012 - The defendants filed a motion to dismiss.

February 17, 2012 - The lead plaintiff filed a second amended complaint.

February 10, 2012 - The court granted the lead plaintiff's motion to amend the amended complaint.

February 9, 2012 - The lead plaintiff filed a motion to amend the amended complaint.

December 3, 2010 - The defendants filed a motion to dismiss.

September 20, 2010 - The lead plaintiff filed an amended complaint.

July 14, 2010 - The lead plaintiff and lead counsel were appointed.

December 28, 2009 - A lead plaintiff motion was filed.

October 28, 2009 - An investor in shares of Pitney Bowes Inc (NYSE: PBI) filed a lawsuit in the U.S. District Court for the District of Connecticut against Pitney Bowes Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that Pitney Bowes Inc and certain officers of Pitney Bowes Inc 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 Inc held a conference call with analysts and investors to discuss Pitney Bowes Inc 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 Inc announcement, the price of Pitney Bowes Inc common stock (NYSE: 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. Pitney Bowes Inc 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 (NYSE: 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.