NEW YORK, Nov. 25, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sonoma Pharmaceuticals, Inc. ("Sonoma" or the "Company") (NASDAQ: SNOA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Sonoma and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 17, 2020, post-market, Sonoma filed a current report on Form 8-K with the U.S. Securities and Exchange Commission disclosing that the Company's "unaudited condensed consolidated interim financial statements for the quarter ended June 30, 2020 should no longer be relied upon." Specifically, Sonoma advised that the financial statements for this time period "contained material errors" and that "the Company will need to restate them."
On this news, Sonoma's stock price fell $1.10 per share, or 14.23%, over the next few trading days to close at $6.63 per share on November 20, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP