The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plantronics, Inc. Investors (PLT)
LOS ANGELES--(BUSINESS WIRE)--Jan 9, 2020--
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Plantronics, Inc., (“Plantronics” or the “Company”) (NYSE: PLT ) securities between July 2, 2018 and November 5, 2019, inclusive (the “Class Period”). Plantronics investors have until January 13, 2020 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On November 5, 2019, the Company disclosed a $65 million reduction in channel inventory “by reducing sales to channel partners” and slashed its fiscal 2020 guidance, expecting revenue between $1.72 billion and $1.81 billion and adjusted EBITDA between $282 million and $323 million. Plantronics also reported that its Executive Vice President of Global Sales was leaving the Company.
On this news, the Company’s stock price fell $14.44 per share, or nearly 37%, to close at $25.00 per share on November 6, 2019, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Plantronics securities during the Class Period, you may move the Court no later than January 13, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Plantronics securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200109005878/en/
CONTACT: The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: The Law Offices of Frank R. Cruz
Copyright Business Wire 2020.
PUB: 01/09/2020 07:32 PM/DISC: 01/09/2020 07:32 PM