logo
Plus   Neg
Share
Email

Plantronics Posting Steep Loss After Announcing Settlement With SEC

After moving sharply higher in the previous session, shares of Plantronics, Inc. (PLT) are pulling back along with the broader markets during trading on Thursday. Plantronics is currently down by 7.1 percent, just above the six-year closing low set on Monday.

The steep drop by Plantronics comes after the communications product maker agreed to pay $36 million as part of a settlement with the SEC related to foreign bribery allegations involving its recently acquired Polycom unit.

"We are very pleased that the investigation into some of Polycom's foreign operations has concluded," said Plantronics CEO Joe Burton. "Plantronics has been, and remains, committed to operating with ethical and financial integrity, and we look forward to the future with Polycom."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly opening a new line of grocery stores separate from its existing Whole Foods and Amazon Go chains. According to CNET, an Amazon spokesperson confirmed that, "Amazon is opening a grocery store in Woodland Hills in 2020." Woodland Hills is a neighborhood... Google Stadia, the tech giant's game streaming service that was unveiled in June, has announced it will launch 12 games on November 19. To celebrate the start of holiday season, coffee retail giant Starbucks Corp. (SBUX) is offering a Happy Hour deal on Thursday, November 14. On November 14 from 2-7 p.m., Starbucks customers can buy one, get one free on any handcrafted beverage, including holiday beverages, size grande or larger. Starbucks...
Follow RTT
>