Synchronoss Technologies: Class Action

Synchronoss Technologies

Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Synchronoss Technologies (NASDAQ:SNCR) in connection to alleged violations of securities laws by SNCR. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Synchronoss Technologies between May 6, 2016 through April 26, 2017.

The class action complaint specifically alleges that during the period in question, SNCR might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company was going to be unable to reach the revenue guidance it had previously given its investors; that as a result of this, the company, was going to have to update that guidance; and that as a result, SNCR’s statements to the public about its operations, prospects and business were materially false and misleading and/or had no reasonable basis during the relevant period. When the market gained access to true details of the situation, according to the lawsuit, SNCR’s investors suffered damages.

According to the company’s website, Synchronoss Technologies “provides essential mobile solutions for Service Providers and Enterprise through proven and scalable software solutions and platforms.” The company’s description continues: “Ours is a powerful, secure, and frictionless new approach to modern mobility, one that simplifies the creation and management of customer and employee experiences associated with identity, cloud, messaging, applied analytics, and secure mobility. This approach enables our clients to transform their businesses by creating growth, profitability and competitive advantage. With 130+ seminal patents, Synchronoss has one of the largest, most comprehensive technology platforms in production, widely used by the largest service providers and their 3 billion-plus mobile subscribers located around the world.”

A class action lawsuit has already been filed in connection with Synchronoss Technologies. If you wish to serve as lead plaintiff in the SNCR lawsuit, you must move the Court no later than June 30, 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.

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