Key Developments: Polycom Inc (PLCM.O)

PLCM.O on Nasdaq

13.33USD
22 May 2015
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Latest Key Developments (Source: Significant Developments)

Polycom Inc announces $115 million accelerated share repurchase program
Wednesday, 4 Dec 2013 09:09pm EST 

Polycom Inc:Says plans to repurchase an aggregate of $115 million of common stock through an accelerated share repurchase (ASR) program.Says it has entered into separate ASR agreements with JPMorgan Chase Bank, N.A. and Barclays PLC.Says that this announcement represents the concluding phase of Polycom`s $400 million Return of Capital program announced on Sep. 11.Says under the terms of the ASR transactions, Polycom has agreed to repurchase a combined $115 million of its common stock with an initial delivery of approximately 8.0 million shares.Says transactions are expected to be completed by June 30, 2014.  Full Article

Polycom Inc appoints Peter A. Leav as President and Chief Executive Officer
Tuesday, 3 Dec 2013 08:30am EST 

Polycom Inc:Says Peter A. Leav has joined the company as President and Chief Executive Office.Says Leav will also serve as a Director on Polycom`s Board of Directors.Says Leav succeeds interim CEO Kevin Parker, who will continue serving as Chairman of the Board of Polycom.Says Leav assumed the role on Dec. 2, and will be based out of the company`s global headquarters in Silicon Valley.  Full Article

Polycom Inc Issues Q4 2013 EPS Guidance; Revenue Guidance Below Analysts' Estimates - Conference Call
Wednesday, 23 Oct 2013 03:30pm EDT 

Polycom Inc announced that for the fourth quarter of 2013, it expects revenue ranging from $336 million to $346 million, non-GAAP EPS ranging from $0.13 to $0.16 per share and GAAP EPS, excluding tender offer charges, to range from a loss of $0.01 to income of $0.02 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $353 million and EPS of $0.16 for the fourth quarter of 2013.  Full Article

Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Polycom Inc
Monday, 16 Sep 2013 08:15pm EDT 

The Law Offices of Todd M. Garber 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 Polycom Inc securities between July 24, 2012 and July 23, 2013, inclusive. On July 23, 2013 Polycom issued a press release announcing the resignation of the Company`s President and Chief Executive Officer, Andrew Miller. According to the Company, on July 17, 2013 the Audit Committee of the Board of Directors completed a review of certain of Mr. Miller`s expense submissions and found certain irregularities in these submissions.  Full Article

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

Polycom wins dismissal of investor class action over CEO's improper expenses

- Polycom Inc has won a bid to dismiss a securities fraud class action lawsuit stemming from the Silicon Valley technology company's failure to disclose the extravagant expenses its former chief executive allegedly racked up covertly.

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