NEW ORLEANS, January 22, 2022 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into HP Inc. (NYSE: HPQ).
In September 2020, the United States Securities and Exchange Commission (“SEC”) issued a cease and desist order against the company for its “failure to disclose between November 2015 and June 2016 material information regarding the inventory management and sales practices of its printing supplies channels,” relating to various tactics used to increase quarterly operating profit, while resulting in “profit margin erosion and increased channel stocks”. The SEC also announced that the company had agreed to pay $6 million to pay the charges.
The Company was also sued in a securities class action lawsuit for failing to disclose material information in violation of federal securities laws, which is still pending.
KSF’s investigation focuses on whether HP’s officers and/or directors breached their fiduciary duties to HP shareholders or otherwise violated federal or state laws.
If you have information that may help KSF in its investigation, or if you have been a long-time HP stockholder and wish to discuss your legal rights, you may, at no obligation or cost to you, call toll-free 1- 877-515-1850 or email Lewis Kahn, KSF Managing Partner ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-hpq/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – seeking to recover investment losses due to corporate fraud and malfeasance by listed companies in stock exchange. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras Street, Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC