#United States #Class Action #Seattle #Settlement #Plantronics

Settlement Announcement for Plantronics, Inc.

In a significant legal development, Bernstein Litowitz Berger & Grossmann LLP and Hagens Berman Sobol Shapiro LLP have announced a proposed settlement in a class action lawsuit involving Plantronics, Inc. The lawsuit affects all individuals or entities that purchased or acquired the publicly traded common stock of Plantronics from August 7, 2018, to November 5, 2019.

Overview of the Case

The legal action has been provisionally certified as a class action, aiming to benefit those who might qualify as members of the Settlement Class. The settlement is established following the allegations that certain senior executives of Plantronics misled investors by concealing critical information about the company’s business performance, which allegedly led to financial losses among shareholders.

The Class Action lawsuit, filed in the Northern District of California, has drawn significant attention due to the financial implications for both the company and its investors. The plaintiffs argue that Plantronics and its executives, including CEO Joseph Burton and CFOs Pamela Strayer and Charles Boynton, made misleading statements regarding sales practices that ultimately harmed investors.

Proposed Settlement Details

Following extensive mediation, a proposed cash settlement of $29.5 million has been reached. It aims to resolve all claims presented in the lawsuit. However, it is crucial for affected parties to be aware of their rights regarding the proposed settlement, including how to participate and the deadlines involved.

The Court will conduct a hearing on August 14, 2025, to determine whether the proposed terms of the settlement are fair and reasonable. This session will be held via Zoom, simplifying attendance for members of the Settlement Class.

Important Dates and Participation

Members of the Settlement Class must submit a Claim Form postmarked no later than June 25, 2025, to be eligible for participation in the settlement. Failing to submit this form will mean that individuals will not receive part of the settlement, yet they remain bound by any future decisions made by the Court regarding this action. For those who prefer not to be included in the settlement, a request for exclusion must also be submitted by the same deadline.

Further instructions, including how to access the videoconference and details for filing claims or objections, can be found on the class action website. This ensures transparency throughout the process and assures participants that they understand all requirements and rights associated with this settlement.

Conclusion

This proposed settlement marks an important step for investors impacted by the Plantronics stock purchase period under scrutiny. As the court date approaches, affected individuals are encouraged to stay informed and to act promptly to secure their rights. More information about this case can be accessed via the class action's designated website or by contacting the Claims Administrator directly.

In conclusion, while the outcomes of such legal matters can be complex, efforts like these aim to bring resolution and restitution to those wronged by corporate missteps. Investors involved in the stock of Plantronics should keep a close watch on developments leading up to the settlement hearing.