Lexmark Investors Seek Class Cert. In Stock-Drop Suit
Law360 (August 19, 2019, 6:48 PM EDT) -- Lexmark investors on Friday asked a New York federal judge to certify a class in a suit alleging the printer manufacturer caused its stock price to tumble after it oversupplied some of its markets overseas, temporarily inflating the company's value.
The investors told Judge William H. Pauley III of the U.S. District Court for the Southern District of New York that their proposed class numbered in the thousands, noting that more than 1,600 parties, including more than 400 institutional investors, held some of Lexmark International Inc.'s 61 million shares during the class period.
They first filed suit in July 2017, alleging...
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