According to the Complaint, HP Inc. provides personal computers, printers, and related supplies, solutions, and services. The Company conducts business primarily through two segments: Printing and Personal Systems. The Printing segment provides consumer and commercial printer hardware, supplies, solutions, and services. The Personal Systems segment provides commercial and consumer computers and related software, support, and services.
The Complaint alleges that during the Class Period, Defendants misrepresented HP’s business and financial condition by issuing false and misleading statements regarding HP’s financial performance and, in particular, its revenue, profit margin, and earnings. Specifically, the Complaint alleges Defendants provided positive financial results for HP, but misrepresented and omitted to state that HP’s Supplies channel inventory management and sales practices had resulted in increased channel inventory and decreased revenues and profits.