The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Plantronics, Inc. (NYSE: PLT) who purchased shares between July 2, 2018 and November 5, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
(1) the Company had engaged in channel stuffing to artificially boost sales; (2) the Company’s internal control over inventory levels was not effective; (3) the Company had not adequately monitored inventory levels ahead of multiple product launches, where the new models would displace demand for aging products; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until January 13, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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