Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of Polycom (PLCM) violated state or federal laws.
On July 23, 2013, Polycom made known that Andrew Miller, CEO resigned after the board found "irregularities" in his expense submissions. Despite these “irregularities” the company also revealed that Miller would be compensated based upon an agreement which Miller will remain employed through Aug. 15 and get a lump-sum of $500,000, minus some withholdings, as well as a lump-sum cash payment equal to 12 months' worth of reimbursements under the COBRA health benefits program. He will also be eligible to get his bonus for the first half of 2013 and keep his company-issued laptops and other electronic devices.
Since this news announcement, shares of Polycom have fallen $1.51 per share or 14% in pre-market trading.
If you have information that could assist in this investigation, or if you are a Polycom shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ( firstname.lastname@example.org) by email or by phone at 619-230-0063, Ext. 118.Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
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