PHILADELPHIA, Sept. 5, 2020 /PRNewswire/ — Kaskela Law LLC announces that it 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 firm’s investigation seeks to determine whether the members of Plantronics’ board of directors violated the securities laws and/or breached their fiduciary duties to Plantronics and its stockholders 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 email at firstname.lastname@example.org or online at http://kaskelalaw.com/case/plantronics-inc/, to discuss this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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SOURCE Kaskela Law LLC