A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Polycom Inc (NASDAQ: PLCM) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 23, 2016 and NASDAQ: PLCM investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/15/2016 -- A deadline is coming up on August 23, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Polycom Inc (NASDAQ: PLCM) between January 20, 2011 and July 23, 2013.
Investors who purchased a significant amount of shares of Polycom Inc (NASDAQ: PLCM) between January 20, 2011 and July 23, 2013, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Polycom Inc (NASDAQ: PLCM) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/polycom-inc-nasdaq-plcm-investor-securities-class-action-lawsuit-07262013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 23, 2016. The class action administrator for this case is Garden City Group, LLC.
The lawsuit was originally filed in the U.S. District Court for the Northern District of California against Polycom Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between July 24, 2012 and June 23, 2013.
According to the complaint the plaintiff alleges on behalf of purchasers of Polycom Inc (NASDAQ: PLCM) common stock during the period between July 24, 2012 and June 23, 2013, that Polycom Inc and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.More specifically, the plaintiff alleges that Defendants made false and/or misleading statements and/or failed to disclose that Polycom Inc's CEO had been submitting inappropriate and irregular expense submissions, that Polycom Inc's CEO was violating Polycom Inc's code of conduct and was subject to dismissal at all relevant times, that Polycom Inc did not have effective internal controls over their business operations, that the CEO's improper conduct created a risk that he would be terminated from Polycom Inc, jeopardizing Polycom Inc's future success, and that as a result of the above, Polycom Inc's financial statements were materially false and misleading at all relevant times.
Those who purchased Polycom Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com