2019-09-19

Class-action law firm urges SONIM investors to learn their shareholder rights against Sonim to recover losses

Source: Marketscreener

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.

“We’re focused on investors’ losses and whether senior management concealed problems with Sonim’s XP8 smartphones,” said Hagens Berman partner Reed Kathrein.