An investigation for investors in NASDAQ:LOGI shares over potential securities laws violations by Logitech International SA in connection certain financial statements was announced.
Investors who purchased shares of Logitech International SA (USA) (NASDAQ:LOGI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Logitech International SA (USA) (NASDAQ:LOGI regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 19, 2016, the Securities and Exchange Commission (“SEC”) announced that Logitech International SA agreed to pay a $7.5 million penalty for allegedly fraudulently inflating its fiscal year 2011 financial results to meet earnings guidance and committing other accounting-related violations during a five-year period. Logitech’s former controller and former director of accounting also agreed to pay penalties of $50,000 and $25,000, respectively, for alleged violations related to Logitech’s warranty accrual accounting and failure to amortize intangibles from an earlier acquisition.
Shares of Logitech International SA (USA) (NASDAQ:LOGI) closed on April 29, 2016 at $15.38 per share.
Those who purchased NASDAQ:LOGI shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com