LOS ANGELES, CA / ACCESSWIRE / September 20, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Zebra Technologies Corporation ("Zebra Technologies" or the "Company") (NASDAQ: ZBRA) for possible violations of federal securities laws from March 17, 2015 through May 9, 2016, inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares of Zebra Technologies during the Class Period should contact the firm prior to September 25, 2017, the lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at [email protected].
No class has been certified in the above action yet, and until a class is certified, you are not considered to be represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint alleges that throughout the Class Period, Zebra Technologies issued materially false and/or misleading statements, and/or failed to disclose: that it understated its income taxes through the end of 2015, under accrued certain 2015 estimates, in particular with respect to its sales commission plan, and overstated the net realizable value of trade receivables acquired in connection with its acquisition of Motorola's Enterprise division. Zebra Technologies also failed to reveal the impact of material weaknesses identified in its internal controls and procedures over financial reporting and disclosure, which caused the misstatements and rendered the Company's financial guidance for 2015 and the first and second quarters of 2016 materially false and misleading.
On May 10, 2016, Zebra Technologies announced disappointing financial results for its first quarter of 2016, stating that "first quarter results [were] below…expectations, with lower sales and earnings reflecting the continuation of a cautious enterprise spending environment." On the same day, the Company filed its quarterly report on Form 10-Q with the U.S. Securities & Exchange Commission for the first quarter of 2016, which confirmed that Zebra Technologies found defects in its internal controls in 2015 that had impaired its ability to accurately forecast its pretax income and deferred taxes. Upon this news, Zebra Technologies' stock price fell materially, which caused investors harm according to the lawsuit.
Lundin Law PC was established by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
[email protected]
http://lundinlawpc.com/
SOURCE: Lundin Law PC