Robbins Arroyo LLP: Zebra Technologies Corporation (ZBRA) Misled Shareholders According to a Recently Filed Shareholder Lawsuit
Aug. 24, 2018
SAN DIEGO & LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--Aug 24, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Zebra Technologies Corporation (NasdaqGS: ZBRA) have filed a complaint against the company's officers and directors for alleged breaches of fiduciary duties and violations of the Securities Exchange Act of 1934. Zebra, together with its subsidiaries, designs, manufactures, and sells a range of automatic identification and data capture products worldwide.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/zebra-technologies-corporation-aug-22-2018
Zebra Accused of Downplaying Complications with Motorola Enterprise Acquisition
According to the complaint, in April 2014, Zebra announced that it would acquire Motorola Incorporated's Enterprise division. Zebra officials subsequently schemed to conceal the complications associated with the flawed integration of Motorola and the significant costs associated with remedying them. Although Zebra said that the acquisition would result in cost savings and was progressing as planned, Zebra would have to spend up to $200 million to fix the systemic problems with the IT systems migration and to rebrand the operations of Motorola Enterprise. Zebra finally disclosed on November 1, 2016, that it would restate its previously issued financial statements for the full year of 2015, and the first and second quarters of 2016, citing incremental spending for the IT systems integration.
Zebra Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20180824005391/en/
CONTACT: Robbins Arroyo LLP
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SOURCE: Robbins Arroyo LLP
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PUB: 08/24/2018 02:34 PM/DISC: 08/24/2018 02:34 PM