An investigation on behalf of current long term investors in Polycom Inc (NASDAQ:PLCM) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:PLCM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2013 -- An investigation on behalf of current long-term investors in shares of Polycom Inc (NASDAQ:PLCM) was announced concerning whether certain Polycom directors breached their fiduciary duties that caused damages to the company and its shareholders.
Investors who are current long term investors in Polycom Inc (NASDAQ:PLCM) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554
The investigation by a law firm for current long term investors in NASDAQ:PLCM stocks follows a lawsuit that was filed recently against Polycom Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:PLCM stocks concerns whether certain Polycom officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. Northern District of California the plaintiff alleges that Polycom Inc 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’s CEO had been submitting inappropriate and irregular expense submissions, that Polycom’s CEO was violating the Company'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 the Company's future success, and that as a result of the above, Polycom’s financial statements were materially false and misleading at all relevant times.
On December 17, 2013, NASDAQ:PLCM shares closed at $10.93 per share.
Those who purchased shares of Polycom Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com