According to the Complaint, Quad/Graphics, Inc. provides a data-driven, integrated marketing solutions platform to help clients reduce complexity, increase efficiency, and enhance marketing spend effectiveness.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company’s book business in United States was underperforming; (2) that, as a result, the Company was likely to divest its book business; (3) that the Company was unreasonably vulnerable to decreases in market prices; (4) that, to remain financially flexible while market prices decreased, the Company was likely to cut its quarterly dividend and expand its cost reduction programs; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On January 10, 2020, the Court issued an Order consolidating cases. The Court issued an Order appointing Lead Plaintiff and Counsel on March 2. Lead Plaintiff filed an amended Complaint on May 15. Defendants filed a Motion to Dismiss the amended Complaint on July 14. On February 25, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were denied leave to amend.