In September of 2020, the U.S. Securities and Exchange Commission (“SEC”) issued a cease-and-desist order to the Company for its “failure to disclose between November 2015 and June 2016 material information regarding its print supplies channel inventory management and sales practices,” relating to a variety of tactics used to increase quarterly operating profit, while leading to “an erosion of profit margin and an increase in channel inventory.” The SEC also announced that the Company had agreed to pay $6 million to settle the charges.
The Company has also been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ingoing.
KSF’s investigation is focusing on whether HP’s officers and/or directors breached their fiduciary duties to HP’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of HP shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
Source : https://www.prnewswire.com/news-releases/hp-inc-investigation-initiated-by-former-louisiana-attorney-general–kahn-swick–foti-llc-investigates-the-officers-and-directors-of-hp-inc—hpq-301466101.html
