SEATTLE, March 11, 2025 /PRNewswire/ — JND Legal Administration
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
OAKLAND DIVISION
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IN RE PLANTRONICS, INC. |
No. 4:19-cv-07481-JST CLASS ACTION Judge: Hon. Jon S. Tigar |
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES
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TO: |
All persons and entities who purchased or otherwise acquired the publicly-traded common stock of Plantronics, Inc. (“Plantronics”) during the period from August 7, 2018 through November 5, 2019, inclusive (the “Class Period”) and were damaged thereby (the “Settlement Class”). |
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California, that the above-captioned litigation (the “Action”) has been provisionally certified as a class action for the purposes of settlement only on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”).
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action, Ilya Trubnikov and Roofers’ Pension Fund, have reached a proposed settlement of the Action for $29,500,000.00 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action.
The Action involves allegations that Plantronics and certain of its senior officers violated federal securities laws. Lead Plaintiffs allege that, during the period from August 7, 2018 through November 5, 2019, Plantronics and the Individual Defendants—Joseph Burton, Plantronics’ Chief Executive Officer during the Class Period; Pamela Strayer, Plantronics’ Chief Financial Officer for a portion of the Class Period; and Charles Boynton, Plantronics’ CFO for a later portion of the Class Period—made certain material misrepresentations and omissions about Plantronics’ business, in violation of Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), including misleading investors regarding Plantronics’ sales practices. Lead Plaintiff also allege that the Individual Defendants controlled Plantronics when the alleged misstatements were made, in violation of Section 20(a) of the Exchange Act. Defendants deny the allegations in the Action, deny that they made any misleading statements or omissions, and deny any violations of the federal securities laws. Issues and defenses at issue in the Action included (i) whether Defendants made materially false statements or omissions; (ii) whether Defendants made the statements with the required state of mind; (iii) whether the alleged misstatements caused class members’ losses; and (iv) the amount of damages, if any. These disputed issues have not been determined by the Court. The proposed settlement was reached following two mediation sessions and extensive arm’s-length negotiations conducted with the assistance of experienced third-party mediators.
A hearing will be held on August 14, 2025 at 2:00 p.m. Pacific Time, before the Honorable Jon S. Tigar of the United States District Court for the Northern District of California, by Zoom videoconference, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether, for purposes of the Settlement only, the Action should be certified as a class action on behalf of the Settlement Class; (iii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated July 18, 2024 (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel’s motion for attorneys’ fees and Litigation Expenses should be approved. Instructions for accessing the videoconference will be made available on the case website (www.PlantronicsSecuritiesLitigation.com) and on the Court’s website (https://www.cand.uscourts.gov/judges/tigar-jon-s-jst/). The date and time of the Settlement Hearing are subject to change without further notice to the Settlement Class. If you plan to attend the hearing, you should check the Settlement website, www.PlantronicsSecuritiesLitigation.com, to confirm that the date and time of the hearing have not changed.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Plantronics Securities Litigation, c/o JND Legal Administration, P.O. Box 91496, Seattle, WA 98111, 1-855- 680-9512. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.PlantronicsSecuritiesLitigation.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than June 25, 2025, or submit it online by this date. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than June 25, 2025, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and expenses, must be submitted to the Court no later than June 25, 2025, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk’s office, Plantronics, any other Defendants or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
John Rizio-Hamilton
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
(800) 380-8496
[email protected]
HAGENS BERMAN SOBOL
SHAPIRO LLP
Sean R. Matt
1301 Second Avenue, Suite 2000
Seattle, WA 98101
(206) 623-7292
[email protected]
Requests for the Notice and Claim Form should be made to:
Plantronics Securities Litigation
c/o JND Legal Administration
P.O. Box 91496
Seattle, WA 98111
(855) 680-9512
www.PlantronicsSecuritiesLitigation.com
By Order of the Court
SOURCE JND Legal Administration
