Plantronics $29.5 Million Investor Class Deal Gets Court Nod

Plantronics Inc.‘s $29.5 million class settlement got a federal judge’s blessing to resolve investor claims that the electronics company used deceptive sales practices to boost financial figures.

Judge Jon S. Tigar awarded the shareholders’ lead counsel 22% of that sum, or $6.49 million, in attorneys’ fees plus interest and $593,198 reimbursed in litigation expenses while approving the agreement on Monday. The accord ends a lawsuit in the US District Court for the Northern District of California that alleged Plantronics’ positive financial results after it bought Polycom Inc. in 2018 were from an undisclosed and unsustainable implementation of over-sending ...