SOURCE: Izard Nobel LLP

October 28, 2009 18:57 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Pitney Bowes, Inc.

WEST HARTFORD, CT--(Marketwire - October 28, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Connecticut on behalf of purchasers of the common stock of Pitney Bowes Inc. ("Pitney Bowes" or the "Company") (NYSE: PBI) between July 30, 2007 and October 29, 2007, inclusive (the "Class Period").

The complaint charges that Pitney Bowes and certain of its directors and officers violated federal securities laws by issuing misleading statements concerning the Company's business and financial condition. Specifically, defendants failed to disclose the following: (i) that Pitney Bowes was experiencing a slowdown in sales of equipment and software and supplies to the financial services sector; (ii) that revenues in the Company's U.S. mailing segment had dramatically declined and were not performing according to internal expectations; (iii) that the Company's international operations were not performing to internal expectations as market liberalization and deregulation were causing customers to delay purchasing decisions; and (iv) as a result of the foregoing, there was no reasonable basis for defendants' positive statements about the Company, its operations and earnings.

On October 29, 2007, during a conference call, defendants admitted that a host of factors caused Pitney Bowes to drastically miss the earnings they had promised. On this news, Pitney Bowes common stock fell from $42.68 to $36.27 per share.

If you are a member of the class, you may, no later than December 28, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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