POLYCOM ALERT: Johnson & Weaver, LLP Continues Its Investigation of Certain Officers & Directors of Polycom, Inc. Following S...
March 31 2015 - 8:28PM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP today
announced that it is continuing to investigate whether certain
officers and directors of Polycom, Inc. (NASDAQ: PLCM) violated
state or federal laws.
On March 31, 2015, it was revealed the SEC has filed a complaint
alleging that former CEO, Andrew Miller, from 2010 through
mid-2013, used nearly $200,000 in corporate funds for personal
perks not disclosed to shareholders, to pay for lavish meals,
foreign and domestic travel, clothing, gifts, and entertainment for
himself, his relatives, and friends.
In one example, Miller allegedly directed his administrative
assistant to buy him two tickets to an August 2012 Broadway
musical. Miller received reimbursement for the $576.20
entertainment cost by falsely claiming the tickets were used as a
prize for Polycom's New York sales office. In reality, Miller
attended the show with his girlfriend. The SEC also charged that,
along with the tickets, Miller received reimbursement for more than
$275 for dinner with his girlfriend after the musical.
As a result of the internal control issues regarding Miller’s
expenses, the SEC reached a $750,000 settlement with Polycom.
Further, the SEC’s Complaint against Miller alleges, in April
2013, Polycom filed a materially false and misleading proxy
statement that omitted at least $115,683 of undisclosed perks
received by Miller during fiscal year 2012, alone. If you
feel that certain officers and directors should be held liable,
you may have standing to hold the Company
harmless from these damages if you have held Polycom shares
continuously long term. You may also be able to assist in reforming
Polycom’s corporate governance to prevent future
wrongdoing.
If you are interested in learning more about the
investigation or your legal rights and remedies, please contact Jim
Baker (jimb@johnsonandweaver.com) by email or by
phone at 619-814-4471. If emailing, please include a phone number
where you can be reached.
About Johnson & Weaver,
LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
For more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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