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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 13, 2020 to file lead plaintiff applications in a securities class action lawsuit against Plantronics, Inc. (NYSE: PLT).
Plantronics and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 5, 2019, the Company disclosed a channel inventory cut of $65M “by reducing sales to channel partners,” fiscal 2020 guidance reductions in revenue between $1.72B and $1.81B and adjusted EBITDA between $282M and $323M, as well as the departure of its Executive Vice President of Global Sales.
On this news, the price of Plantronics’ shares plummeted nearly 37% on unusually heavy trading volume.
If you purchased securities of Plantronics and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Bassuk v. Plantronics, Inc., et al., 3:19-cv-07481. Click here to read the case complaint.