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NEW YORK, Aug. 18, 2017 -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors who purchased Sequans Communications S.A. (“Sequans” or the “Company”) (NYSE:SQNS) securities between April 29, 2016 through July 31, 2017, inclusive (the “Class Period”).
Investors who have incurred losses in Sequans Communications S.A. are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased shares of Sequans Communications S.A. and would like to assist with the litigation process as a lead plaintiff, you may, no later than October 10, 2017, request that the Court appoint you lead plaintiff of the proposed class.
The complaint filed in this class action alleges that throughout the Class Period, Sequans made false and/or misleading statements and/or failed to disclose that:
- Sequans was improperly recognizing revenue; and
- as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On August 1, 2017, Sequans disclosed that the Company’s second quarter revenue was negatively affected after the Company had to take product back into their inventory from an early 2016 sale related to the tablet business.
On this news, Sequans stock dropped $0.67 per share, or over 18%, to close at $3.01 per share on August 1, 2017.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: [email protected], [email protected] or [email protected] Tel: (800) 575-0735 or (212) 545-4774
