NEW YORK, NY / ACCESSWIRE / December 4, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Plantronics, Inc. ("Plantronics" or the "Company") (PLT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Plantronics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 5, 2019, Plantronics disclosed a $65 million reduction in channel inventory "by reducing sales to channel partners" and slashed its fiscal year 2020 guidance. The Company advised investors that it expected revenue between $1.72 billion and $1.81 billion and adjusted EBITDA between $282 million and $323 million.
On this news, Plantronics' stock price fell $14.44 per share, or 36.61%, to close at $25.00 per share on November 6, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP
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