Pitney Bowes, Inc. (PBI) Made Misleading Statements in its Prospectus Documents

According to the complaint, Pitney Bowes, Inc. filed its Prospectus with the Securities and Exchange Commission, which formed part of the Registration Statement, pursuant to which Pitney Bowes sold $300 million worth of 3.625% Notes Due 2020 and $400 million worth of 4.700% Notes Due 2023. What the company failed to disclose, however, was that decreases in equipment sales in the North America Mailing division in the third quarter 2017, which had already reduced sales revenues in the company's SMBS segment, coupled with decreased margins in the SMBS segment had reduced Pitney Bowes third quarter 2017 net income and EBIT.

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