NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (NASDAQ:SNCR).
The investigation focuses on whether the Company and its executives violated federal securities laws. Specifically, pre-market on April 27, 2017, the Company announced that it “expects total revenue for the first quarter of 2017 to be $13 million to $14 million less than the company's previously announced guidance” and that “[o]perating margins are expected to be 8% to 10%, which are less than previously announced guidance.” In addition, Synchronoss announced that its Chief Executive Officer, Ronald Hovsepian, and Chief Financial Officer, John Frederick, would be leaving the Company “to pursue other interests.”
On these announcements, Synchronoss’ share price declined significantly during intraday trading on April 27, 2017, causing harm to investors.
If you invested in Synchronoss stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/SNCR. There is no cost or obligation to you.
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