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INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Plantronics, Inc. and Encourages Investors to Contact the Firm Before January 13

December 28, 2019 GMT

NEW YORK--(BUSINESS WIRE)--Dec 27, 2019--

The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Plantronics, Inc. (“Plantronics” or the “Company”) (NYSE: PLT ) securities during the period from July 2, 2018 through November 5, 2019 (the “Class Period”). Investors have until January 13, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The lawsuit alleges that Plantronics failed to disclose that: (i) the Company had engaged in channel stuffing to artificially boost sales; (ii) the Company’s internal control over inventory levels was not effective; and (iii) the Company had not adequately monitored inventory levels ahead of multiple product launches, where the new models would displace demand for aging products.

On November 5, 2019, the Company announced disappointing second quarter 2020 results, decreased earnings guidance, and disclosed that it would reduce channel inventory by $65 million.

On this news, the Company’s stock price fell $14.44 per share, or 36.6%, to close at $25.00 per share on November 6, 2019.

If you acquired Plantronics securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.

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/20191227005294/en/

CONTACT: Kirby McInerney LLP

Thomas W. Elrod, Esq.

(212) 371-6600

investigations@kmllp.com

www.kmllp.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Kirby McInerney LLP

Copyright Business Wire 2019.

PUB: 12/27/2019 08:40 PM/DISC: 12/27/2019 08:40 PM

http://www.businesswire.com/news/home/20191227005294/en