Company Appoints KPMG as its Independent Auditors for Fiscal Year 2015
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it has filed its Form 10-K for Fiscal Year 2014 with the U.S. Securities and Exchange Commission. Additionally, the Audit Committee of Logitech's Board of Directors has appointed KPMG LLP (KPMG) as the Company's independent registered public accounting firm for Fiscal Year 2015, and intends to submit the nomination of KPMG Holding AG/SA for approval by Logitech's shareholders at its upcoming Annual General Meeting on Dec. 18, 2014.
As announced by Logitech on Nov, 6, 2014, Logitech's appointment of a new independent registered public accounting firm for FY 2015 is due to PricewaterhouseCoopers LLP ("PwC"), the Company's current independent registered public accounting firm, informing Logitech on that date that it has concluded it is not independent with respect to the second quarter of Fiscal Year 2015.
Logitech continues to work with PwC to file its Quarterly Report on Form 10-Q for the first quarter of Fiscal Year 2015 and with Pricewaterhouse SA, its independent auditors, to file its 2014 Annual Report in Switzerland as soon as possible. PwC, Pricewaterhouse SA and the Audit Committee have mutually agreed that PwC and Pricewaterhouse SA will not stand for re-election after such filings are completed. KPMG will begin its engagement with the review of the Company's Quarterly Report on Form 10-Q for the second quarter of Fiscal Year 2015. Consistent with professional standards governing auditor transition, PwC and Pricewaterhouse SA will work with the Company and KPMG to assist in the Company's transition to KPMG as its auditors.
About Logitech
Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech's combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation: the timing of filing the Company's Annual Report for Fiscal Year 2014 in Switzerland; the timing of filing the Company's Quarterly Reports on Form 10-Q for the first and second quarters of Fiscal Year 2015 in the United States; the timing of the Company's 2014 Annual General Meeting; the intent to submit the nomination of KPMG to the approval of Logitech's shareholders; and the timing of when KPMG would begin its engagement. These statements are subject to risks and uncertainties that may cause actual results and events to differ materially, including without limitation: the timing and final resolution of the issue regarding the independence of PwC, any delay it may cause in the filing of required periodic reports with the Securities and Exchange Commission and SIX Swiss Exchange, the effect on the timing of the 2014 Annual General Meeting of a delay in filing the Annual Report, and any change or delay in the engagement of KPMG. In addition, please refer to the risk factors contained in Logitech's periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2014, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press release.
Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company's Web site at www.logitech.com.
(LOGIIR)
Contacts:
Logitech International
Joe Greenhalgh
Vice President, Investor Relations USA
510-713-4430
Nancy Morrison
Corporate Communications USA
510-713-4948
Ben Starkie
Corporate Communications Europe
+41-(0) 79-292-3499
