Faruqi & Faruqi, LLP Announces Investigation of Sequans Communications S.A.
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Sequans Communications S.A. (“Sequans” or the “Company”) (NYSE: SQNS). Faruqi & Faruqi, LLP seeks to determine whether Sequans violated federal securities laws in connection with statements made to the Company’s shareholders.
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The investigation focuses on whether certain individuals violated federal securities laws by, among other things, failing to disclose that: (1) revenues from the Company's WiMAX products were declining; (2) the Company was not in position to generate significant revenues from sales of 4G LTE products until late 2012; (3) the Company's largest customer, HTC, and the industry in general, were focusing more on 4G LTE offerings as opposed to WiMAX offerings - including those offered by the Company; (4) the Company, instead of experiencing sales growth during 2011, would in fact experience sales declines during the period; and (5) the Company was becoming increasingly more dependent upon sales from its largest customer, HTC, and sales from that customer had declined and would continue to decline.
Take Action
If you purchased Sequans securities between April 15, 2011 and July 27, 2011, and you would like to discuss your legal rights, visit www.faruqilaw.com/SQNS. You can also contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to avozzolo@faruqilaw.com or rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Sequans’ conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
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CONTACT:
Anthony Vozzolo, Esq.
Richard W. Gonnello, Esq.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Telephone: 877-247-4292 or 212-983-9330
E-mail: avozzolo@faruqilaw.com
rgonnello@faruqilaw.com
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INDUSTRY KEYWORDS: Technology Semiconductor Mobile/Wireless Professional Services Legal
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