NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Sonim Technologies, Inc. (NASDAQ: SONM) resulting from allegations that Sonim may have issued materially misleading business information to the investing public.
On September 10, 2019, citing “significant delays” in the launch of new products as well as software issues related to these new introductions, Sonim announced that it expected net revenue for fiscal 2019 to be flat or slightly below 2018 net revenue of $135.7 million.
On this news, Sonim's share price fell $3.30, or over 46%, to close at $3.76. The stock currently trades at around $3.30, a 70% decline from its IPO price.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Sonim investors. If you purchased shares of Sonim please visit the firm’s website at http://www.rosenlegal.com/cases-register-1687.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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