A lawsuit was filed on behalf of investors in Sonim Technologies, Inc. (NASDAQ: SONM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/21/2019 -- An investor, who purchased shares of Sonim Technologies, Inc. (NASDAQ: SONM), filed a lawsuitover alleged violations of Federal Securities Laws by Sonim Technologies, Inc. in connection with the Company's May 2019 initial public offering
Investors who purchased shares of Sonim Technologies, Inc. (NASDAQ: SONM) have certain options and for certain investors are short and strict deadlines running. Deadline: December 6, 2019. NASDAQ: SONM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
San Mateo, CA based Sonim Technologies, Inc. provides ruggedized mobile phones and accessories for task workers. Sonim Technologies, Inc. conducted its initial public offering ("IPO") on May 9, 2019 at an offering price of $11 per share.
On June 24, 2019, Sonim Technologies, Inc. Reported its first quarter 2019 financial results and issued its second quarter 2019 financial outlook.
Shares of Sonim Technologies, Inc. (NASDAQ: SONM) declined to as low as $3.25 per share on September 12, 2019.
The plaintiff claims that the defendants failed to disclose to investors that the Company's XP8 was experiencing material software challenges, that these software issues adversely affected how the device's Qualcomm chipset, which supported Band 14 access, connected to AT&T's carrier network configuration, that the Company's XP5 and XP3 devices were experiencing material software defects that adversely affected their optimization with certain accessories, that, as a result, the Company was reasonably likely to delay the launch of new products, that, as a result of the foregoing, the Company's financial results would be materially and adversely impacted, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis
Those who purchased shares of Sonim Technologies, Inc. (NASDAQ: SONM) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.