Join The Class Action Suit
Company: Plantronics, Inc.
Kaskela Law LLC is investigating Plantronics, Inc. (“Plantronics” or the “Company”) (NYSE: PLT) on behalf of the Company’s stockholders.
Recently a securities fraud complaint was filed against Plantronics in federal court on behalf of investors who purchased shares of the Company’s stock between August 7, 2018 and November 5, 2019. According to the complaint, during that time period Plantronics and certain of the Company’s senior executive officers engaged in an “illicit channel stuffing scheme designed to deceive investors into believing Plantronics’ costly acquisition of audio video conferencing company, Polycom, Inc., had transformed the stagnant headset company into an overnight growth story.”
The complaint further alleges that “[t]he truth about Defendants’ fraud was revealed through a series of disclosures between June 18, 2019 and November 5, 2019, when the Company, unable to continue its channel-stuffing scheme, announced sales integration and channel consolidation issues, declining quarterly revenues, poor financial guidance and an outsized reduction of channel inventory. These disclosures caused Plantronics shares to plummet, erasing billions of dollars in market capitalization and causing investors to suffer substantial damages.”
The investigation seeks to determine whether the members of Plantronics’ board of directors breached their fiduciary duties in connection with the above alleged misconduct.
Current Plantronics stockholders who purchased or acquired shares of the Company’s stock prior to August 7, 2018 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, to discuss this investigation and their legal rights and options.