Investigation Overview
February 9, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Pitney Bowes Inc. (NYSE:PBI) shares over potential securities laws violations by Pitney Bowes Inc. and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Pitney Bowes Inc. (NYSE:PBI) concerning whether a series of statements by Pitney Bowes Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Pitney Bowes Inc. reported that its annual Total Revenue declined from over $3.82 billion in 2014 to over $3.57 billion in 2015 and that its Net Income increased from $333.75 million in 2014 to $407.94 million in 2015.
On February 1, 2017, Pitney Bowes Inc. reported disappointing financial results for the full year and fourth quarter 2016, missing earnings forecasts and offering below-consensus guidance for 2017. The CEO of Pitney Bowes Inc. said that Our fourth quarter and full-year results were not what we wanted or expected. Shares of Pitney Bowes Inc. (NYSE:PBI) declined to as low as $12.88 per share on February 2, 2017.