The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plantronics, Inc. Investors (...
09 Janeiro 2020 - 9:32PM
Business Wire
The Law Offices of Frank R. Cruz announces that a class action
lawsuit has been filed on behalf of persons and entities that
purchased or otherwise acquired Plantronics, Inc., (“Plantronics”
or the “Company”) (NYSE: PLT) securities between July 2, 2018
and November 5, 2019, inclusive (the “Class Period”).
Plantronics investors have until January 13, 2020 to file a
lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
participate.
On November 5, 2019, the Company disclosed a $65 million
reduction in channel inventory “by reducing sales to channel
partners” and slashed its fiscal 2020 guidance, expecting revenue
between $1.72 billion and $1.81 billion and adjusted EBITDA between
$282 million and $323 million. Plantronics also reported that its
Executive Vice President of Global Sales was leaving the
Company.
On this news, the Company’s stock price fell $14.44 per share,
or nearly 37%, to close at $25.00 per share on November 6, 2019,
thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Plantronics securities during the Class Period,
you may move the Court no later than January 13, 2020 to ask
the Court to appoint you as lead plaintiff. To be a member of the
Class you need not take any action at this time; you may retain
counsel of your choice or take no action and remain an absent
member of the Class. If you purchased Plantronics securities, have
information or would like to learn more about these claims, or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Frank R.
Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the
Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007,
by email to info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
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/20200109005878/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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