Plantronics Shareholders: January 13, 2020 Filing Deadline in Class Action – Contact Lieff Cabraser
03 Dezembro 2019 - 11:02AM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
reminds investors of the upcoming deadline to move for appointment
as lead plaintiff in the class action that has been filed on behalf
of investors who purchased or otherwise acquired the securities of
Plantronics, Inc. (“Plantronics” or the “Company”) (NYSE: PLT)
between January 2, 2018 and November 5, 2019, inclusive (the “Class
Period”).
If you purchased or otherwise acquired Plantronics securities
during the Class Period, you may move the Court for appointment as
lead plaintiff by no later than January 13, 2020. A lead plaintiff
is a representative party who acts on behalf of other class members
in directing the litigation. Your share of any recovery in the
actions will not be affected by your decision of whether to seek
appointment as lead plaintiff. You may retain Lieff Cabraser, or
other attorneys, as your counsel in the actions.
Plantronics investors who wish to learn more about the
litigation and how to seek appointment as lead plaintiff should
click here or contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Plantronics, incorporated in Delaware and headquartered in Santa
Cruz, California, designs, manufactures, and markets integrated
communications and collaboration solutions.
Plaintiffs allege that, throughout the Class Period, Plantronics
made materially false or misleading statements, failing to disclose
that (1) the Company had engaged in channel stuffing to
artificially increase its sales; (2) the Company’s internal
controls over inventory levels were not effective; and (3) the
Company had not adequately monitored inventory levels leading up to
multiple product launches.
On November 5, 2019, Plantronics disclosed a $65 million
reduction in channel inventory “by reducing sales to channel
partners” and significantly lowered its fiscal 2020 guidance. The
same day, Plantronics announced that the Executive Vice President
of Global Sales, Jeff Loebbaka, was departing the Company. On that
news, the price of Plantronics common stock fell $14.44 per share,
or 36.61%, from a closing price of $39.44 on November 5, 2019, to
close at $25.00 per share on November 6, 2019, on extremely
elevated trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, is a nationally recognized law
firm committed to advancing the rights of investors and promoting
corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Law360 has selected Lieff Cabraser as
one of the Top 50 law firms nationwide for litigation, highlighting
our firm’s “laser focus” and noting that our firm routinely finds
itself “facing off against some of the largest and strongest
defense law firms in the world.” Benchmark Litigation has named
Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in
America.”
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
https://www.lieffcabraser.com.
Follow us for updates on Twitter:
https://twitter.com/LieffCabraser.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20191203005386/en/
Source/Contact for Media Inquiries Only Sharon M. Lee
Lieff Cabraser Heimann & Bernstein, LLP Telephone:
1-800-541-7358
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