Sonim Technologies Issues Revised Financial Guidance
On September 10, 2019, Sonim announced updated guidance for fiscal 2019 which stated that its net revenue would be lower than 2018 net revenues of $135.7 million. The company noted new product launch delays and software issues with the new products as reasons for the revised financial guidance. Sonim also announced that its CFO was leaving the company.
The day of the announcement, the company’s stock closed down more than 46 %, causing serious losses for investors.
Sonim Technologies IPO
Sonim Technologies raised $39,285,719 through its initial public offering in May, 2019 at a price of $11 per share.
The lead book-running manager for the offering was Oppenheimer & Co. Inc., with Lake Street Capital Markets, LLC acting as joint book-running manager. National Securities Corporation was co-manager for the offering.
Recovering Money Lost With Sonim Technologies, Inc. (SONM) Stock
If you suffered losses with Sonim Technologies, we’d like to hear from you. Contact us to discuss your legal rights and potential options to recover your losses.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Our attorneys represent investors in class actions against issuers in state or federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.