NEW YORK, Dec. 14, 2020 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Sequential Brands Group Inc. (“Sequential Brands” or the “Company”) (NASDAQ: SQBG).
Sequential Brands owns a portfolio of consumer brands in fashion, home, athletic and lifestyle categories, including Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, AND1 and Avia. The Company has both wholesale and direct-to-retail licensees.
On December 11, 2020, the Securities and Exchange Commission (“SEC”) announced that “SEC Charges Sequential Brands Group Inc. with Deceiving Investors by Failing to Timely Impair Goodwill”. Further “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 Brand’s stock price fell from its day’s high of $17.50 to close at $16.20 or almost 7.5% during intraday trading on December 11, 2020.
If you are a shareholder of Sequential Brands and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7201 or via email at investigations@lowey.com.
Whistleblowers: Persons with non-public information regarding Sequential Brands should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totalling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Contact
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com