Faruqi & Faruqi, LLP Announces Investigation of Sequans Communications S.A. (SQNS)
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.
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.
If you purchased Sequans securities between April 15, 2011 and July 27, 2011, and you would like to discuss your legal rights, you can 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 firstname.lastname@example.org or email@example.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.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.