The law offices of Howard G. Smith commences an investigation on behalf of Lexmark International, Inc. investors.
Law Offices of Howard G. Smith announced an investigation on behalf of Lexmark International, Inc. shareholders concerning the company and its officers’ possible violations of federal securities laws.
The investigation concerns whether the company adequately disclosed sharp declines in its revenues for the second quarter 2015 results. On July 21, 2015, Lexmark reported poor results for its second quarter ending June 30, 2015 and lowered its 2015 sales guidance. The Company revealed its supplies growth was not attributable to end-user demand but rather the result of its European customers buying ahead of customary price increases which produced excessive inventory.
On this news, shares of Lexmark fell sharply in value, thereby damaging investors.
The period in question pre-dates the acquisition of Lexmark by the Ninestar Corporation (formally Apex Technology Co. Ltd) in November 2016.