Zhang Investor Law Announces Securities Class Action Lawsuit Against Sonim Technologies, Inc. – SONM

NEW YORK, Oct. 25, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces 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”).

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. 

To join the class action, go http://zhanginvestorlaw.com/join-action-form/?slug=sonim-technologies-inc&id=2044  or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=sonim-technologies-inc&id=2044.  

According to the lawsuit,  throughout the Class Period, defendants and its senior executives presented false and misleading financial statements or omitted to disclose:  (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.  

Zhang Investor Law represents investors worldwide.  Attorney Advertising.  Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756