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HPInc Supplies shareholder class action settlement (Revised Jul 13, 2023)

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Summary: "...the estimated average recovery per eligible share... will be approximately $0.013."

The quotes below are from the complete Notice.  https://www.hpsecuritiessettlement.com/docs/Notice/HP%20-%20Notice%20(FINAL).pdf

"Estimate of Average Amount of Recovery Per Share. "Based on Lead Plaintiffs’ damages expert’s estimate of the number of shares of HP common stock eligible to participate in the Settlement, and assuming that all investors eligible to participate do so, the estimated average recovery per eligible share (before deduction of any Court-approved fees and expenses, such as attorneys’ fees and expenses, taxes, and administration costs) will be approximately $0.013. Settlement Class Members should note, however, that the foregoing is only an estimate. Some Settlement Class Members may recover more or less than this amount per share depending on: (i) when and the price at which they purchased/acquired their shares of HP common stock; (ii) whether they sold their shares of HP common stock; (iii) the total number and value of valid Claims submitted; (iv) the amount of Notice and Administration Costs; and (v) the amount of attorneys’ fees and Litigation Expenses awarded by the Court. ... 

"The issuance of this Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement." ...

"In this Action, Lead Plaintiffs allege that, during the Class Period (i.e., the period between February 23, 2017 and October 3, 2019, inclusive), HP and certain of its executive officers at the time... made materially false and misleading statements to investors concerning HP’s printing supplies business and HP’s purported stabilization of printing supplies revenue. Lead Plaintiffs further allege that the price of HP common stock was artificially inflated during the Class Period as a result of Defendants’ allegedly false and misleading statements and that the Settlement Class suffered damages when the alleged truth regarding these matters was publicly disclosed through a series of partial disclosures beginning on February 27, 2019. Please Note: As discussed below, Lead Plaintiffs’ Complaint and Amended Complaint have been dismissed by the Court and, at the time of settlement, Lead Plaintiffs’ appeal of this Court’s dismissal of the Action was pending. As such, at the time of settlement, the claims asserted in the Action and the claims being resolved by the Settlement were dismissed and the outcome of this case was dependent on the pending appeal." ...

Complete details: https://www.hpsecuritiessettlement.com

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