ROSEN, GLOBAL INVESTOR COUNSEL, Announces Investigation of Securities Claims Against Sequential Brands Group, Inc. - SQBG
The Rosen Law Firm is investigating potential securities claims on behalf of Sequential Brands Group, Inc. (SQBG) shareholders due to allegations of issuing misleading business information. On December 11, 2020, the SEC charged Sequential for failing to timely impair goodwill, which reportedly inflated operational income and misrepresented financial condition. This news caused a significant drop in Sequential's stock price on the same day. The law firm is preparing a securities lawsuit for affected investors.
- None.
- SEC charges against Sequential for deceiving investors over goodwill impairment.
- Stock price declined sharply on December 11, 2020, following the SEC announcement.
NEW YORK, Dec. 29, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Sequential Brands Group, Inc. (NASDAQ: SQBG) resulting from allegations that Sequential may have issued materially misleading business information to the investing public.
On December 11, 2020, the U.S. Securities and Exchange Commission issued a press release announcing that the "SEC Charges Sequential Brands Group Inc. with Deceiving Investors by Failing to Timely Impair Goodwill[.]" The press release stated that "[a]s alleged, by avoiding an impairment to its goodwill in 2016, Sequential inflated its income from operations, created a false impression of its financial condition, and misstated its financial statements and reports for almost a year." On this news, Sequential's stock price fell sharply during intraday trading on December 11, 2020.
Rosen Law Firm is preparing a securities lawsuit on behalf of Sequential shareholders. If you purchased securities of Sequential please visit the firm's website at http://www.rosenlegal.com/cases-register-2006.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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