Plantronics Class Action Reaches $29.5 Million Proposed Deal

Plaintiffs in a securities class action against electronics equipment company Plantronics Inc. say the parties have a reached a $29.5 million settlement, according to a filing with a California federal district court.

The parties reached the agreement after “four years of hard-fought litigation” and two mediation sessions, the plaintiffs told the US District Court for the Northern District of California in an unopposed motion for preliminary approval of settlement. Judge Jon S. Tigar is presiding over the case.

Plaintiffs sued in November 2019 asserting violations of federal securities laws against Plantronics and other defendants. They said Plantronics made materially false ...