SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Sequential Brands Group, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES, March 18, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sequential Brands Group, Inc. ("Sequential Brands" or "the Company") (NASDAQ: SQBG) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 3, 2016 and December 11, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before May 17, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Sequential Brands knew or should have known in late 2016 that its goodwill was impaired. The Company used every tactic possible to delay the material write down in goodwill starting in late 2016 and into 2017. The Company materially understated its operating expenses and net loss while simultaneously overstating its income from operations, goodwill, and assets during this period. The Company failed to maintain internal controls. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Sequential Brands, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE The Schall Law Firm
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