Plantronics, Inc.
Company Name | Plantronics, Inc. |
Stock Symbol | PLT |
Class Period | July 02, 2018 to November 05, 2019 |
Lead Plaintiff Motion Deadline | January 13, 2020 |
On November 5, 2019, the Company disclosed a $65 million reduction in channel inventory “by reducing sales to channel partners” and slashed its fiscal 2020 guidance, expecting revenue between $1.72 billion and $1.81 billion and adjusted EBITDA between $282 million and $323 million. Plantronics also reported that its Executive Vice President of Global Sales was leaving the Company.
On this news, the Company’s stock price fell $14.44 per share, or nearly 37%, to close at $25.00 per share on November 6, 2019, thereby injuring investors.
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