San Diego, CA -- (SBWIRE) -- 05/23/2017 -- The Shareholders Foundation announces that an investor, who purchased shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR), filed a lawsuit over alleged violations of Federal Securities Laws by Synchronoss Technologies, Inc.

Investors who purchased shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) have certain options and for certain investors are short and strict deadlines running. Deadline: June 30, 2017. NASDAQ:SNCR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Synchronoss Technologies, Inc. (NASDAQ:SNCR) common shares between December 6, 2016 and April 26, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 6, 2016 and April 26, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Synchronoss Technologies, Inc. would not be able to meet revenue guidance provided to investors, that as such, Synchronoss Technologies, Inc. would need to revise its prior guidance, and that as a result, defendants' statements about Synchronoss Technologies, Inc's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Bridgewater, NJ based Synchronoss Technologies, Inc. is a global software and services company, which provides technologies and services for the mobile transformation of business

Synchronoss Technologies, Inc. reported that its annual Total Revenue rose from $428.12 million in 2015 to $476.75 million in 2016 and that its Net Income fell from $40.63 million in 2015 to $19.59 million in 2016. Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) reached $49.18 per share in November 2016.

On April 27, 2017, Synchronoss Technologies, Inc announced that company founder and Chairman of the Board of Directors Stephen Waldis will return to the role of Chief Executive Officer, effective immediately. Synchronoss Technologies, Inc also announced that Lawrence Irving has been named Chief Financial Officer and that John Frederick, who served as Chief Financial Officer prior to Mr. Irving's appointment, will be leaving to pursue other interests. Furthermore, Synchronoss Technologies, Inc also downgraded its revenue guidance by $13 to $14 million and its operating margins by up to 10% for the first quarter of 2017. Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) declined to $11.15 per share on April 27, 2017.

Those who purchased shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com