Key Developments: Polycom Inc (PLCM.O)

PLCM.O on Nasdaq

13.14USD
21 Aug 2014
Price Change (% chg)

$0.36 (+2.82%)
Prev Close
$12.78
Open
$12.75
Day's High
$13.19
Day's Low
$12.75
Volume
1,702,337
Avg. Vol
1,750,231
52-wk High
$14.06
52-wk Low
$9.85

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Latest Key Developments (Source: Significant Developments)

Rigrodsky & Long, P.A. Reminds Shareholders of Polycom Inc of Upcoming Deadline
Thursday, 12 Sep 2013 06:47pm EDT 

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, reminded shareholders of Polycom Inc of an upcoming deadline involving a securities fraud lawsuit commenced against the Company. A complaint was filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of Polycom between July 24, 2012 and July 23, 2013, inclusive (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the Complaint). If you wish to serve as lead plaintiff, you must move the Court no later than September 24, 2013.  Full Article

Levi & Korsinsky, LLP Notifies Investors With Losses On Investment In Polycom, Inc. Of Class Action Lawsuit
Wednesday, 11 Sep 2013 05:38pm EDT 

Levi & Korsinsky, LLP announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Polycom, Inc. stock between July 24, 2012 and July 23, 2013. The Complaint alleges that during the Class Period the Company issued false and/or misleading statements and/or failed to disclose that: (a) the Company`s CEO, Andrew Miller, had submitted inappropriate and irregular expense submissions; (b) Miller violated the Company`s code of conduct and was subject to dismissal at all relevant times; (c) the Company did not have effective internal controls over its business operations, thus materially impacting the Company`s current and previous financial statements; (d) Miller`s conduct created a risk that he would be terminated from the Company, jeopardizing the Company`s future success; and (e) as a result of the above, the Company`s financial statements were materially false and misleading at all relevant times. On July 23, 2013, Polycom announced the resignation of Miller acknowledging the discovery by an Audit Committee of "certain irregularities" in Miller`s expense submissions.  Full Article

Rosen Law Firm Reminds Polycom, Inc. Investors Of Important Class Action Deadline
Tuesday, 10 Sep 2013 11:26am EDT 

The Rosen Law Firm, P.A. announced that it reminds purchasers of Polycom, Inc. stock during the period between July 24, 2012 and July 23, 2013, of the important September 24, 2013 lead plaintiff deadline in the class action. The lawsuit alleges that Polycom issued false and misleading information to investors concerning the effectiveness of Polycom's internal controls and former CEO Andrew Miller's submission of expense reports containing irregularities to Polycom. The lawsuit claims that when this adverse information was disclosed, it caused the price of Polycom securities to decline -- damaging investors.  Full Article

Law Office of Brodsky & Smith, LLC Announces Investigation of Polycom Inc
Tuesday, 3 Sep 2013 03:37pm EDT 

Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors and the former President and CEO of Polycom Inc (Polycom or the Company). On July 23, 2013 Polycom issued a press release announcing the resignation of the Company's President and CEO. According to Polycom, on July 17, 2003 the Audit Committee completed a review of certain expense submissions and found certain irregularities in these submissions. Following this news, on July 24, 2013 the price of Polycom shares fell 15% to $9.49 with a volume of more than 14 million shares traded. The investigation seeks to determine if Polycom's Board of Directors breached their fiduciary duties due to the Company's lack of internal controls that allowed for the irregular expense submissions. In addition, the investigation seeks to determine if any monies are owned to the Company from Polycom's former President and CEO.  Full Article

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Polycom Inc
Monday, 26 Aug 2013 02:08pm EDT 

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announced that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of Polycom Inc between July 24, 2012 and July 23, 2013, inclusive (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the Complaint).  Full Article

The Rosen Law Firm, P.A. Reminds Polycom, Inc. Investors Of Important Class Action Deadline
Friday, 23 Aug 2013 01:11am EDT 

The Rosen Law Firm, P.A. announced that it reminds purchasers of Polycom, Inc. stock during the period from July 24, 2012 to July 23, 2013, of the important September 24, 2013 lead plaintiff deadline in the class action. The lawsuit arises from allegedly false and misleading information disseminated to investors about the effectiveness of Polycom's internal controls and former CEO Andrew Miller's submission to Polycom of expense reports containing irregularities. The lawsuit claims that when this adverse information caused the price of Polycom securities to decline-damaging investors.  Full Article

Law Offices of Howard G. Smith Announces Class Action Lawsuit against Polycom Inc
Tuesday, 13 Aug 2013 08:15pm EDT 

Law Offices of Howard G. Smith announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class comprising all purchasers of the securities of Polycom Inc between July 24, 2012 and July 23, 2013, inclusive.  Full Article

Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Polycom Inc
Monday, 5 Aug 2013 12:15pm EDT 

Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the District Court for the Northern District of California against Polycom Inc (Polycom or the Company) common stock during the period between July 24, 2012 and July 23, 2013, inclusive (the Class Period). The Complaint alleges that during the Class Period the Company issued false and/or misleading statements and/or failed to disclose that: the Company's CEO had been submitting inappropriate and irregular expense submissions; the Company's CEO was violating the Company's code of conduct and was subject to dismissal at all relevant times; the Company did not have effective internal controls over its business operations thus materially impacting the Company's current and previous financial statements; the CEO's improper conduct created a risk that he would be terminated from the Company, jeopardizing the Company's future success; and as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.  Full Article

Gainey McKenna & Egleston Announces Securities Fraud Class Action Lawsuit Against Polycom Inc
Wednesday, 31 Jul 2013 06:45pm EDT 

Gainey McKenna & Egleston announced that a class action lawsuit has been filed in United States District Court for the Northern District of California on behalf of purchasers of Polycom, Inc. between July 24, 2012 and June 23, 2013, seeking remedies under the federal securities laws. The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that the Company's CEO had been submitting inappropriate and irregular expense submissions; the Company's CEO was violating the Company's code of conduct and was subject to dismissal at all relevant times; the Company did not have effective internal controls over their business operations; the CEO's improper conduct created a risk that he would be terminated from the Company, jeopardizing the Company's future success, and as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.  Full Article

Federman & Sherwood Announces Securities Class Action Lawsuit Against Polycom Inc
Tuesday, 30 Jul 2013 04:21pm EDT 

Polycom Inc announced that on July 26, 2013, a class action lawsuit was filed in the United States District Court for the Northern District of California against Polycom, Inc. The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is July 24, 2012 through July 23, 2013.  Full Article

Polycom adjusted profit beats Street as cost cuts boost margins

- Videoconferencing equipment maker Polycom Inc reported a better-than-expected quarterly adjusted profit as cost cuts, including workforce reductions, boosted margins.

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