LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sonim Technologies, Inc. (“Sonim” or “the Company”) (NASDAQ: SONM) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sonim admitted on September 10, 2019, that net revenue for fiscal year 2019 would be flat or slightly below 2018’s net revenue of $135.7 million. The Company blamed “significant delays” in new product launches for the revenue issues. Based on this news, shares of Sonim fell by 46%.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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