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SAN FRANCISCO, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in Sonim Technologies (NASDAQ: SONM) of the firm’s investigation of possible disclosure violations.
The firm’s investigation concerns whether Sonim misled investors in promoting “healthy demand” for its flagship smartphone, XP8. On Sept. 10, 2019, Sonim’s management shocked investors when they disclosed that “the company has experienced technical challenges related to its XP8 smartphone . . ., which cumulatively resulted in lost sales momentum.” The company also announced the abrupt resignation of CFO Jim Walker. On this news, the price of SONM shares dropped sharply.
If you invested in SONM before Sept. 10, 2019 and suffered losses, contact Hagens Berman immediately to discuss your options.
“We’re focused on investors’ losses and whether senior management concealed problems with Sonim’s XP8 smartphones,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Sonim Technologies should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email SONM@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000