Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Pitney Bowes Inc. (NYSE: PBI) 3.625% Notes Due 2020 and 4.700% Notes Due 2023, issued in connection the Pitney Bowes September 13, 2017 public offering of the Notes, have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1933. Pitney Bowes is a global provider of mail processing equipment and integrated mail solutions.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/pitney-bowes-inc/
Pitney Bowes Made Misleading Statements in its Prospectus Documents
According to the complaint, Pitney Bowes filed its Prospectus with the Securities and Exchange Commission, which formed part of the Registration Statement, pursuant to which Pitney Bowes sold $300 million worth of 3.625% Notes Due 2020 and $400 million worth of 4.700% Notes Due 2023. What the company failed to disclose, however, was that decreases in equipment sales in the North America Mailing division in the third quarter 2017, which had already reduced sales revenues in the company’s SMBS segment, coupled with decreased margins in the SMBS segment had reduced Pitney Bowes third quarter 2017 net income and EBIT.
Pitney Bowes Investors Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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