Sequential Brands Group, Inc.
Lead Plaintiff Deadline: 05/17/2021
SUMMARY OF CASE:
A securities class action has been filed against Sequential Brands Group, Inc. (SQBG) on behalf of purchasers of the securities of Sequential Brands between November 3, 2016 through December 11, 2020. This case has been filed in the USDC – C.D.CA.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) in late 2016, the Company knew or should have known that its goodwill was likely impaired; (2) the Company avoided and delayed the material write down to goodwill in late 2016 through 2017; (3) the Company understated its operating expenses and net loss and also materially overstated its income from operations, goodwill, and assets from late 2016 through 2017; (4) the Company’s internal controls were deficient; (5) the Company has failed to restate, correct, or disclose relevant improprieties, deceptive conduct, misstatements, omissions, and control violations; (6) as a result of the foregoing, the Company was at greater risk of regulatory scrutiny and enforcement; and (7) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.