Sonim Technologies, Inc.
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Zhang Investor Law announces securities class action lawsuit on behalf of shareholders who bought shares of Sonim Technologies, Inc. (NASDAQ: SONM) pursuant or traceable to the May 2019 Initial Public Offering (“May 2019 IPO”) (the “Class Period”). The lawsuit seeks to recover damages for Sonim Technologies, Inc. investors under the federal securities laws.
If you bought Sonim Technologies, Inc. securities pursuant or traceable to the May 2019 IPO, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces Securities Class Action Lawsuit Against Sonim Technologies, Inc. – SONM
New York, N.Y., October 20, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Sonim Technologies, Inc. (NASDAQ: SONM) pursuant or traceable to the May 2019 Initial Public Offering (“May 2019 IPO”), inclusive (the “Class Period”).
To join the SONM class action, go to http://zhanginvestorlaw.com/cases/sonim-technologies-inc/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
According to the lawsuit, throughout the Class Period: (1) the Company’s XP8 was experiencing material software challenges; (2) these software issues adversely affected how the device’s Qualcomm chipset, which supported Band 14 access, connected to AT&T’s carrier network configuration; (3) the Company’s XP5 and XP3 devices were experiencing material software defects that adversely affected their optimization with certain accessories; (4) as a result, the Company was reasonably likely to delay the launch of new products; (5) as a result of the foregoing, the Company’s financial results would be materially and adversely impacted; and (6) as a result, defendants’ statements about Sonim’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/sonim-technologies-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at firstname.lastname@example.org.
Zhang Investor Law represents investors worldwide.