SOURCE: Kendall Law Group

Kendall Law Group

October 30, 2009 18:19 ET

Kendall Law Group Announces Securities Class Action Against Pitney Bowes Inc.

DALLAS, TX--(Marketwire - October 30, 2009) - Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Pitney Bowes Inc. (NYSE: PBI) for securities violations related to public statements made by the company between July 30, 2007 and October 29, 2007.

Any shareholder, who purchased Pitney Bowes stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by December 28, 2009. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.

The complaint, filed in the District of Columbia, charges Pitney Bowes and certain of its officers and directors with violations of the federal securities laws concerning false and misleading statements by failing to disclose a slowdown in sales of equipment, software and supplies to the financial services sector. The Company knew that revenues in both the U.S. and international mailing segment were not performing to internal expectations and international customers were delaying purchasing decisions due to market liberalization and deregulation. Based on this information, defendants had no reasonable basis for their positive statements about the Company's business and financial condition.

On October 29, 2007, defendants admitted during a conference call that a host of factors had caused Pitney Bowes to drastically fall short of the earnings they had promised. On this news, Pitney Bowes common stock dropped approximately 15%, from 42.68 to $36.27.

Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.

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