According to the Complaint, HP Inc. is a global provider of personal computers, printers and related supplies, solutions, and services.

The claims alleged in this case arise from Defendants' misrepresentations and omissions concerning HP's fundamental changes to its Supplies business strategy, which the Company called its "four-box model." For several years, the Company measured its Supplies business through this model.

The Complaint alleges that, throughout the Class Period, Defendants falsely emphasized that the four-box model was an accurate, reliable tool to determine demand and revenue in the Company's Supplies business, and reassured investors that, based on the four-box model, HP had a "clear line of sight to supply stabilization." Defendants allegedly made false and misleading statements to investors about the reliability of the Company's four-box model and the revenue growth of the Supplies business, touting their "continued confidence in the predictive value of the four box model" and stating that the Company's "Supplies revenue is in line with the expectations that we set, and that our 4-box model continues to drive predictability." As a result of Defendants' alleged misrepresentations, shares of HP's common stock traded at artificially inflated prices during the Class Period.

On May 20, 2020, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on July 20. Defendants filed a Motion to Dismiss the amended Complaint on October 2. On March 19, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On May 3, Lead Plaintiffs filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on June 4. On September 15, the Court issued an Order granting Defendants' Motion to Dismiss. The Complaint was dismissed with prejudice. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on October 14.

On March 2, 2023, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on April 7. On September 6, 2023, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

Lead Plaintiff voluntarily dismissed the appeal of the Dismissal Order on October 20, 2023.