The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased HP Inc. (NYSE: HPQ) securities between February 23, 2017 and October 3, 2019.
According to the HP lawsuit, defendants knew that HP’s “four-box” model for measuring its supplies business was severely deficient and not a strong predictor of supplies demand and outcomes because HP lacked telemetry data from its commercial printers and had to use unreliable and stagnant market share data to develop assumptions for the four-box model. The complaint further alleges that defendants knew the lack of telemetry data for commercial printing was a critical shortcoming of the four-box model because HP possessed telemetry data on its personal printing side and knew it was a necessary element for an accurate understanding of the supplies channel. As a result, the supplies inventory in the Company’s channel exceeded demand by at least $100 million and HP’s supplies revenue growth was grossly inflated.
If you suffered a loss in HP you have until April 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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