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NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a 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”), inclusive (the “Class Period”).
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. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the case go: http://zhanginvestorlaw.com/join-action-form/?slug=sonim-technologies-inc&id=2044 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com, firstname.lastname@example.org for information on the class action.
According to the case, defendants made false and/or misleading statements and/or failed to disclose that: (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 has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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