OAKLAND, Calif.--(BUSINESS WIRE)--Sonim Technologies shares are currently trading more than 65% below their IPO price. The stock price plummeted yesterday after the company lowered its financial guidance for the fiscal year and announced that it expected “significant delays” in the launch of new products. Gibbs Law Group is investigating a potential Sonim Technologies Class Action Lawsuit on behalf of investors who lost money in Sonim Technologies (NASDAQ: SONM).
To speak privately with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
Sonim Technologies conducted its initial public offering on May 9, 2019 at an offering price of $11 per share. On September 10, 2019, shares dropped over 45% in one day, closing at $3.76 per share when the company lowered its financial guidance for the fiscal year, announced that its CFO is leaving the company, and admitted that it was facing launch delays for new products due to software issues.
What Should Sonim Technologies Investors Do?
If you invested in Sonim Technologies, visit our website or contact our securities team directly at (888) 410-2925 to speak privately with a securities attorney to learn how you may be able to recover your losses. Our investigation concerns potential violations of federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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