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Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Zebra Technologies Corporation Investors and Encourages Investors to Contact the FirmGlancy Prongay & Murray LLP ("GPM") announces that a class action lawsuit has been filed on behalf of investors who purchased Zebra Technologies Corporation ("Zebra" or the "Company") (NASDAQ: ZBRA) securities between March 17, 2015 and May 9, 2016, inclusive (the "Class Period"). Zebra investors have until September 25, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Zebra page on our website at http://www.glancylaw.com/case/zebra-technologies-corporation The Complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose materially adverse information regarding Zebra's business, prospects, and financial results. Specifically, the Complaint alleges that: (1) Zebra ha understated its income taxes through the end of 2015; (2) Zebra had under accrued certain 2015 estimates, in particular with respect to its sales commission plan; (3) Zebra overstated the net realizable value of trade receivables acquired in connection with its acquisition of Motorola's (News - Alert) Enterprise division; (4) the impact of material weaknesses identified in its internal controls and procedures over financial reporting and disclosure; (5) consequently, Zebra's financial guidance for 2015 and the first and second quarters of 2016 were materially false and misleading; and (6) as a result of these false statements, Zebra common stock traded at artificially inflated prices throughout the Class Period. On May 10, 2016, Zebra revealed its inadequate financial results for its first quarter of 2016, stating that "first quarter results [were] below...expectations, with lower sales and earnings reflecting the continuation of a cautious enterprise spending environment." Subsequently, Zebra filed its Form 10-Q quarterly report with the SEC (News - Alert) for the first quarter of 2016, confirming that the Company found defects in its internal controls in 2015, decreasing its ability to accurately predict its pretax income and deferred taxes. On this news, Zebra stock dropped over $11 per share, from a close of $62.58 per share, or about 18%, to close at $51.46 on May 10, 2016. Follow us for updates on Twitter (News - Alert): twitter.com/GPM_LLP. If you purchased shares of Zebra during the Class Period you may move the Court no later than September 25, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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