SAN DIEGO, April 27, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Sequential Brands Group, Inc. (NASDAQ: SQBG) shares.
Investors, who purchased shares of Sequential Brands Group, Inc. (NASDAQ: SQBG) prior to November 2016 and continue to hold any of their NASDAQ: SQBG shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On March 16, 2021, a lawsuit was filed against Sequential Brands Group, Inc. over alleged violations of securities laws. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that in late 2016, the Company knew or should have known that its goodwill was likely impaired, that the Company avoided and delayed the material write down to goodwill in late 2016 through 2017, that the Company understated its operating expenses and net loss and also materially overstated its income from operations, goodwill, and assets from late 2016 through 2017, that the Company’s internal controls were deficient, that the Company has failed to restate, correct, or disclose relevant improprieties, deceptive conduct, misstatements, omissions, and control violations, that as a result of the foregoing, the Company was at greater risk of regulatory scrutiny and enforcement, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased Sequential Brands Group, Inc. (NASDAQ: SQBG) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.