WILMINGTON, Del., Jan. 07, 2020 — Rigrodsky & Long, P.A. reminds investors of upcoming deadlines involving securities fraud class action lawsuits commenced against the following companies:
Plantronics, Inc. (NYSE: PLT)
Class Period: July 2, 2018 – November 5, 2019 Lead Plaintiff Deadline: January 13, 2020
According to the Complaint, 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.
To learn more, visit: https://www.rigrodskylong.com/cases-plantronics-inc
Armstrong Flooring, Inc. (NYSE: AFI)
Class Period: March 6, 2018 – November 4, 2019 Lead Plaintiff Deadline: January 14, 2020
According to the Complaint, on May 3, 2019, Armstrong Flooring’s Chief Executive Officer abruptly resigned. Then, on November 5, 2019, before the market opened, Armstrong Flooring reported $165.6 million net sales for third quarter 2019, a nearly 21% decline year-over-year, and a net loss of $31.4 million. The Company also cut its full year 2019 guidance for adjusted EBITDA to a range of $20 million to $25 million, from prior guidance range of $46 million to $54 million, citing “larger distributor movements on inventory” than anticipated.
To learn more, visit: https://www.rigrodskylong.com/cases-armstrong-flooring-inc
If you would like to discuss any of these lawsuits and your rights cost and obligation free, please contact Seth D. Rigrodsky or Timothy J. MacFall toll-free at (888) 969-4242, by e-mail at [email protected], or at http://rigrodskylong.com/contact-us/.
A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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