LawFuel.com – The Law Firm Newswire Marketing Service – Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of Polycom, Inc. (“Polycom” or the “Company”) (NASDAQ:PLCM) concerning possible violations of federal securities laws. The investigation focuses on Polycom’s operations and financial performance between July 24, 2012 and July 23, 2013.
“a review of certain of Mr. Miller’s expense submissions”
Polycom provides standards-based unified communications and collaboration, including video, voice and content-management and content-sharing solutions, mobile device applications, browser-based video collaboration and cloud-delivered services. The investigation concerns allegations that the Company’s chief executive officer had been submitting inappropriate expense submissions in violation of the Company’s code of conduct, and that the Company did not have effective internal controls over its business operations, thus materially impacting Polycom’s current and previous financial statements and jeopardizing its future success.
On July 23, 2013 Polycom issued a press release announcing the resignation of the Company’s President and CEO, Andrew Miller. According to the Company, on July 17, 2013 the Audit Committee of the Board of Directors completed “a review of certain of Mr. Miller’s expense submissions” and found “certain irregularities in these submissions.” Following this news, on July 24, 2013 the price of Polycom shares fell $1.69, or more than 15%, to $9.49 per share, on volume of more than 14 million shares traded.
If you purchased Polycom shares, if you have information or would like to learn more about these claims, or if you purchased Polycom shares prior to July 24, 2012 and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.