Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Pitney Bowes Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the December 28, 2009 Lead Plaintiff Deadline
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| Posted
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Mon, 02 Nov 2009 22:02:31 GMT |
| Author
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Brower Piven, A Professional Corporation |
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Press Release |
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BALTIMORE, MD -- 11/02/09 --
Brower Piven, A Professional Corporation
announces that a class action lawsuit has been commenced in the United
States District Court for the District of Connecticut on behalf of
purchasers of the common stock of Pitney Bowes Inc. ("Pitney Bowes" or the
"Company") (NYSE: PBI) during the period between July 30, 2007 and October
29, 2007, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than December 28,
2009 and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You are not required to have sold your shares to seek damages or to
serve as a Lead Plaintiff. You may contact Brower Piven (through
hoffman@browerpiven.com or 410/986-0036) to answer any questions you may
have in that regard.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the Company's failure to disclose during
the Class Period that the Company was experiencing a slowdown in sales of
equipment and software and supplies to the financial services sector; that
revenues in the Company's U.S. mailing segment and international operations
were not performing according to internal expectations such that there was
no reasonable basis for defendants' positive statements about the Company,
its operations and earnings. According to the complaint, on October 29,
2007, after the Company revealed factors that had caused Pitney Bowes to
drastically miss promised earnings, the value of Pitney Bowes's stock
declined significantly.
If you have suffered a net loss for all transactions in Pitney Bowes Inc.
common stock during the Class Period, you may obtain additional information
about this lawsuit and your ability to become a lead plaintiff by
contacting Brower Piven at www.browerpiven.com, by email at
hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, A
Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt
Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven
have combined experience litigating securities and class action cases of
over 40 years. If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be a member
of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Baltimore, Maryland
410/986-0036
Email Contact
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