SAN DIEGO, Oct. 9, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP reminds investors that a class action lawsuit has been filed against Sonim Technologies, Inc. (NASDAQ: SONM) ("Sonim") on behalf of all purchasers of common stock issued in connection with the Company's May 2019 initial public offering ("IPO" or the "Offering").
An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as a lead plaintiff, you must move the Court no later than December 6, 2019. If you want to discuss this action, have any questions concerning this notice, or your rights or interests, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
The complaint alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's XP8 was experiencing material software challenges; (2) that these software issues adversely affected how the device's Qualcomm chipset, which supported Band 14 access, connected to AT&T's carrier network configuration; (3) that the Company's XP5 and XP3 devices were experiencing material software defects that adversely affected their optimization with certain accessories; (4) that, as a result, the Company was reasonably likely to delay the launch of new products; (5) that, as a result of the foregoing, the Company's financial results would be materially and adversely impacted; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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