A lawsuit was filed on behalf of investors in Plantronics, Inc. (NYSE: PLT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/04/2019 -- An investor, who purchased shares of Plantronics, Inc. (NYSE: PLT), filed a lawsuit over alleged violations of Federal Securities Laws by Plantronics, Inc.
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 email@example.com or call +1(858) 779 - 1554.
Santa Cruz, CA based Plantronics, Inc. designs, manufactures, and markets various integrated communications and collaborations solutions for corporate customers, small businesses, and individuals worldwide.
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.
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