The Law Office of Robbins Arroyo LLP Announces that It Has Filed a Class Action Lawsuit Against Polycom, Inc.
Robbins Arroyo LLP announces that it filed a class action lawsuit on June 8, 2016, in the U.S. District Court for the Northern District of California, San Jose Division (the “Court”) on behalf of the shareholders of Polycom, Inc. (“Polycom”) (NASDAQGS: PLCM) against its Board of Directors, Mitel Networks Corporation (“Mitel”) (NASDAQGS: MITL) and Meteor Two, Inc. for, among other things, violations of sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and U.S. Securities and Exchange Commission (“SEC”) Rule 14a-9 promulgated thereunder.
Polycom Is Accused of Disseminating a False and Misleading Proxy Statement
The action arises out of an April 15, 2016 press release announcing that Polycom had entered into an Agreement and Plan of Merger with Mitel pursuant to which Mitel would acquire Polycom for $3.12 per share in cash and 1.31 Mitel common shares for each share of Polycom stock, for total consideration of $1.96 billion (the “Proposed Acquisition”). The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated Polycom shareholders (the “Class”). The named plaintiff is represented by Robbins Arroyo LLP.
The complaint alleges that, in an attempt to secure shareholder approval of the Proposed Acquisition, the defendants filed a materially false and misleading Proxy Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Polycom shareholders’ ability to make an informed decision whether to approve the Proposed Acquisition.
If you purchased or otherwise acquired Polycom stock on, or prior to, the April 15, 2016 announcement of the Proposed Acquisition, and wish to serve as lead plaintiff, you must move the Court no later than sixty days from June 15, 2016. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact attorney Darnell R. Donahue of Robbins Arroyo LLP at 800-350-6003, or you can complete the form below and we will contact you directly.