According to the Complaint, Plantronics, Inc. designs, manufactures, and markets integrated communications and collaboration solutions such as headsets, Open SIP desktop phones, audio and video conferencing, and cloud management and analytics software solutions.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company had engaged in channel stuffing to artificially boost sales; (2) that the Company’s internal control over inventory levels was not effective; (3) that 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) that, 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.

On February 13, 2020, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on June 5. Defendants filed a Motion to Dismiss the amended Complaint on August 7. On March 29, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

Lead Plaintiffs filed a second amended Complaint on June 22, 2021. Defendants filed a Motion to Dismiss the second amended Complaint on September 7. On August 17, 2022, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

On April 11, 2024, Lead Plaintiffs filed a third amended Complaint. On July 18, the parties entered into a Stipulation and Agreement of Settlement.