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Quad/Graphics, Inc. (NYSE: QUAD) Investor Securities Class Action Lawsuit 11/07/2019

  • If you purchased shares of Quad/Graphics, Inc. (NYSE: QUAD), you may have certain options. Please 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
Quad/Graphics, Inc.
Security
NYSE: QUAD

Case Name
Quad/Graphics Shareholder Class Action Lawsuit 11/07/2019
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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Class Period End
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Summary

February 25, 2021 - The court granted the defendants' motion to dismiss. The plaintiffs were not given leave to amend the complaint.

July 14, 2020 - A motion to dismiss the amended complaint was filed.

May 15, 2020 - An amended complaint was filed.

November 7, 2019 - An investor in shares of Quad/Graphics, Inc. (NYSE: QUAD) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Quad/Graphics, Inc. in connection with certain allegedly false and misleading statements made between February 21, 2018 and October 29, 2019.

Sussex, WI based Quad/Graphics, Inc. provides marketing solutions worldwide. Quad/Graphics, Inc. reported that its annual Total Revenue rose from over $4.13 billion in 2017 to over $4.19 billion in 2018 and that its Net Income declined from $107.20 million in 2017 to $8.5 million in 2018.

On October 29, 2019, Quad/Graphics, Inc revealed, in connection with reporting its third quarter 2019 financial results, that Quad/Graphics, Inc had cut its dividend in half to $0.15 per share. Quad/Graphics, Inc also announced plans to divest its book business and updated its guidance to reflect the divestiture of its book business that the Company said generates $200 million in annual sales. Quad/Graphics' net sales guidance for 2019 was thus reduced to approximately $3.9 billion from the previous range of $4.05 billion to $4.25 billion. Shares of Quad/Graphics, Inc. (NYSE: QUAD) declined from $31.14 per share in February 2018 to as low as $4.10 per share on November 6, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Quad/Graphics, Inc. (NYSE: QUAD) common shares between February 21, 2018 and October 29, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 21, 2018 and October 29, 2019, the Defendants failed to disclose to investors that the Company’s book business in United States was underperforming, that, as a result, the Company was likely to divest its book business, that the Company was unreasonably vulnerable to decreases in market prices, that, to remain financially flexible while market prices decreased, the Company was likely to cut its quarterly dividend and expand its cost reduction programs, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.