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Case Status:    DISMISSED    
On or around 09/28/2012 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: May 23, 2011

Logitech International SA ("Logitech" or the Company) is a Swiss-American multinational manufacturer of software and computer peripherals such as keyboards, web cams, and mice.

According to a press release dated May 23, 2011, the Complaint charges Logitech and certain of its officers and directors with violations of the Exchange Act.

Specifically, the Complaint alleges that throughout the Class Period, Defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the Complaint alleges: (a) that the Company’s distributors were overstocked with inventory of certain product lines; (b) that the Company’s pricing and promotional activity was not operating according to plan; (c) that demand for the Company’s products in the Europe, Middle East and Africa markets was significantly declining far below internal expectations; and (d) as a result of the foregoing, Defendants’ positive statements about the Company were lacking in a reasonable basis of fact and were materially false and misleading when made.

On March 31, 2011, after the close of the market, Logitech issued a press release announcing that it had “lowered its full-year outlook for Fiscal Year 2011, ending March 31, 2011. The Company now expects FY 2011 sales in the range of $2.35 to $2.37 billion, down from the previous range of $2.4 to $2.42 billion. FY 2011 operating income is now expected to be in the range of $140 to $150 million, down from the previous range of $170 to $180 million.” In response to this announcement, on April 1, 2011, the price of Logitech stock declined from $18.13 per share to $14.71 per share, or 19%, on extremely heavy trading volume.

On July 28, 2011 the Court entered an order transferring the case from the Southern District of New York to the Northern District of California under the case number 11-CV-03855.

On October 27, 2011, the Court entered an order appointing the lead Plaintiff and approved of lead Counsel.

On January 09, 2012, a consolidated class action Complaint for violation of the federal securities laws was filed in the Northern District of California.

On July 13, 2012, the Court issued an order granting the Defendants' motion to dismiss the CCAC with leave to amend.

On September 27, 2012, the Parties filed a Stipulation agreeing to dismiss this action with prejudice as to all Defendants. On the next day, The Honorable Richard Seeborg signed the order dismissing this action pursuant to the Stipulation.

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