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Lawsuit filed for Investors in shares of Plantronics, Inc. (NYSE: PLT)

11-23-2019 01:19 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Plantronics, Inc. (NYSE: PLT) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Plantronics, Inc. (NYSE: PLT) shares over alleged securities laws violations.

The Shareholders Foundation announced that an investor, who purchased shares of Plantronics, Inc. (NYSE: PLT), filed a lawsuit over alleged Securities Laws violations by Plantronics, Inc. in connection with certain allegedly false and misleading statements made between July 2, 2018 and November 5, 2019.

Investors who purchased shares of Plantronics, Inc. (NYSE: PLT) have certain options and for certain investors are short and strict deadlines running. Deadline: January 13, 2020. NYSE: PLT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 5, 2019, Plantronics, Inc s announced its second quarter 2020 results. Among other things, Plantronics, Inc decreased its earnings guidance, and disclosed its plan to reduce channel inventory by $65 million.

Shares of Plantronics, Inc. (NYSE: PLT) declined from $82.28 per share in July 2018 to as low as $23.14 per share on November 6, 2019.

The plaintiff claims that between July 2, 2018 and November 5, 2019, the defendants failed to disclose to investors that the Company had engaged in channel stuffing to artificially boost sales, that the Company’s internal control over inventory levels was not effective, that the Company had not adequately monitored inventory levels ahead of multiple product launches, where the new models would displace demand for aging products; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Plantronics, Inc. (NYSE: PLT) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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