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http://www.johnsonandweaver.com
SAN DIEGO -- (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.
Contacts:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Source: Johnson & Weaver, LLP
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