| COMPANY |
Zebra Technologies Corporation |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
19-cv-05782 |
| JUDGE |
The Hon. Harry D. Leinenweber |
| CLASS PERIOD |
November 4, 2014 - November 9, 2015 |
| SECURITY TYPE |
Common Stock |
Case Background:
On July 26, 2017, the initial complaint in this securities class action was filed against Zebra Technologies Corporation (“Zebra” or the “Company”), and certain of Zebra’s directors, officers and underwriters, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons who purchased Zebra common stock between November 4, 2014 and November 9, 2015, both dates inclusive (the “Class Period”).
The complaint alleges that during the Class Period, Defendants issued materially false and misleading statements and/or failed to disclose adverse information regarding Zebra’s business, prospects and financial results. Specifically, Defendants failed to disclose that Zebra had understated its income taxes through the end of 2015, under accrued certain 2015 estimates, in particular with respect to its sales commission plan, and overstated the net realizable value of trade receivables acquired in connection with the Company’s acquisition of Motorola’s Enterprise division. As a result of Defendants’ false statements, Zebra common stock traded at artificially inflated prices during the Class Period.
Current Status of Case:
On November 22, 2019, Lead Plaintiff filed a consolidated second amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on January 21, 2020. On October 16, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiffs filed a Notice of Appeal to the Seventh Circuit Court of Appeals on November 13, 2020. On September 2, 2021, the Appeals Court affirmed the Judgement of the District Court. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.