PLANTRONICS SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Plantronics, Inc. - PLT
NEW ORLEANS--(BUSINESS WIRE)--Nov 15, 2019--
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 13, 2020 to file lead plaintiff applications in a securities class action lawsuit against Plantronics, Inc. (NYSE: PLT), if they purchased the Company’s securities between July 2, 2018 and November 5, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Plantronics and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( email@example.com ), or visit https://www.ksfcounsel.com/cases/nyse-plt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 13, 2020.
About the Lawsuit
Plantronics and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 5, 2019, the Company disclosed a channel inventory cut of $65M “by reducing sales to channel partners,” fiscal 2020 guidance reductions in revenue between $1.72B and $1.81B and adjusted EBITDA between $282M and $323M, as well as the departure of its Executive Vice President of Global Sales.
On this news, the price of Plantronics’ shares plummeted nearly 37% on unusually heavy trading volume.
The case is Bassuk v. Plantronics, Inc., et al., 3:19-cv-07481.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191115005517/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
KEYWORD: LOUISIANA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2019.
PUB: 11/15/2019 10:50 PM/DISC: 11/15/2019 10:50 PM