SAN FRANCISCO,Hagens Berman urges Plantronics, Inc. (NYSE: PLT) investors who have suffered losses on or before Nov. 6, 2019 to submit their losses now to learn if they qualify to recover their investment losses. The firm has opened an investigation into Plantronics, Inc. and investors may have valuable claims under the securities laws.
Relevant Holding Period: On or before Nov. 6, 2019
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Plantronics, Inc. (PLT) Investigation:
The investigation centers on the accuracy of Plantronics' reported financial results and disclosures to investors.
Over the past several quarters, Plantronics, the communications gear maker, has announced "solid bottom-line" results.
On Nov. 4, 2019, Plantronics announced the abrupt departure of its Executive Vice President, Global Sales.
Then, after the market closed on Nov. 5, 2019, Plantronics announced disappointing Q2 2020 financial results and slashed earnings guidance about 40%. The company announced that it would reduce channel inventory by approximately $65 million and that this action will have a material impact on third quarter and full year results.
In response, the price of Plantronics shares plummeted on Nov. 6, 2019.
"We're focused on recovering investors' losses and whether the company accurately depicted its financial results and business prospects," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Plantronics and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Plantronics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PLT@hbsslaw.com.
About Hagens BermanHagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP