NEW YORK, NY / ACCESSWIRE / September 11, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Sonim Technologies, Inc. (“Sonim” or the “Company”) (NASDAQ:SONM). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/sonm.
The investigation concerns whether Sonim and certain of its officers and/or directors have violated federal securities laws.
On September 10, 2019, Sonim issued updated financial guidance for fiscal year 2019, advising investors that “[n]et revenues are expected to be flat or slightly below 2018 net revenues of $135.7 million reported in fiscal 2018,” “GAAP net loss . . . is expected to be up to $15 million,” and “[a]djusted EBITDA . . . is expected to be a loss of up to $5 million.” Sonim cited “changes in U.S. wireless carrier forecasts for the launch of Sonim’s new products as well as launch delays due to software issues related to these new introductions” as factors contributing to the Company’s revised financial outlook. On this news, Sonim’s stock price fell $3.30 per share, or 46.74%, to close at $3.76 per share on September 10, 2019.
If you are aware of any facts relating to this investigation, or purchased Sonim shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/sonm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE:Bronstein, Gewirtz & Grossman, LLC