An investigation on behalf of current long term investors in Sequential Brands Group, Inc. (NASDAQ:SQBG) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 06/18/2021 -- Certain directors of Sequential Brands Group, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Sequential Brands Group, Inc. (NASDAQ: SQBG) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: SQBG stocks follows a lawsuit filed against Sequential Brands Group, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: SQBG stocks, concerns whether certain Sequential Brands Group, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the defendants made false and/or misleading statements and/or failed to disclose that in late 2016, the Company knew or should have known that its goodwill was likely impaired, that the Company avoided and delayed the material write down to goodwill in late 2016 through 2017, that the Company understated its operating expenses and net loss and also materially overstated its income from operations, goodwill, and assets from late 2016 through 2017, that the Company's internal controls were deficient, that the Company has failed to restate, correct, or disclose relevant improprieties, deceptive conduct, misstatements, omissions, and control violations, that as a result of the foregoing, the Company was at greater risk of regulatory scrutiny and enforcement, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Sequential Brands Group, Inc. (NASDAQ: SQBG) have certain options and should contact the Shareholders Foundation.
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