Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Sequans Communications (NYSE:SQNS) in connection to alleged violations of securities laws by SQNS. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Sequans Communications between April 29, 2016 and July 31, 2017.
The class action complaint specifically alleges that during the period in question, SQNS might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company was not properly recognizing its revenue; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, Sequans Communications “is a 4G chipmaker and leading provider of single-mode LTE chipset solutions to wireless device manufacturers worldwide.” The company’s description continues: “Founded in 2003, Sequans has developed and delivered seven generations of 4G technology and its chips are certified and shipping in 4G networks around the world. Today, Sequans offers two LTE product lines: StreamrichLTE™, optimized for feature-rich mobile computing and home/portable router devices, and StreamliteLTE™, optimized for M2M devices and other connected devices for the Internet of Things. Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Taiwan, South Korea, and China.”
A class action lawsuit has already been filed in connection with Sequans Communications. If you wish to serve as lead plaintiff in the SQNS lawsuit, you must move the Court no later than October 10, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.