| Company: | Logitech International SA |
| Ticker Symbol: | LOGI |
| Class Period: | Oct-28-10 to Apr-1-11 |
| Date Filed: | May-24-11 |
| Lead Plaintiff Deadline: | Jul-23-11 |
| Court: | Southern District of New York |
| Allegations: | |
The Complaint charges Logitech and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) that Logitech's distributors were overstocked with inventory of certain product lines; (ii) that the Company's pricing and promotional activity was not operating according to plan; (iii) that demand for Logitech's products in the Europe, Middle East and Africa markets was significantly declining far below internal expectations; and (iv) as a result of the foregoing, defendants' positive statements about Logitech were materially false and misleading when made.
On March 31, 2011, Logitech announced that it had lowered its full-year outlook for Fiscal Year 2011 and now expects sales in the range of $2.35-$2.37 billion, down from the previous range of $2.4-$2.42 billion, and operating income in the range of $140-$150 million, down from the previous range of $170-$180 million. On this news, Logitech stock fell from $18.13 to $14.71 per share on April 1, 2011.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
