This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Harwood Feffer LLP Announces Class Action Lawsuit Against Sequans Communications S.A.

Harwood Feffer LLP ( announces that a class action suit has been filed in the United States District Court for the Southern District of New York against Sequans Communications, S.A. (“Sequans” or the “Company”) (NYSE: SQNS) on behalf of a class consisting of purchasers of American Depositary Shares (“ADS”) pursuant to the Company’s initial public offering on or about April 15, 2011, as well as purchasers of Sequans ADSs between April 15, 2011 and July 27, 2011 (the “Class Period”).

On July 29, 2011, Sequans reported a net profit of $0.1 million, or $0.00 per diluted ADS, for the second quarter of 2011, down $1.8 million, or $0.07 per ADS, year-over-year. In response, Sequans ADS dropped $6.88 per share in one day to close at $8.55, down more than 44%.

The suit alleges that during the Class Period, the Company made a series of material misrepresentations regarding the Company’s business prospects: specifically, Sequans failed to disclose that the Company’s revenues from its WiMAX products were in decline, the Company was not positioned to generate substantial revenue from sales of 4G LTE, as a result, the Company’s products no longer were filling the needs of its largest customer, HTC, and the company would not be experiencing sales growth during 2011. As a consequence, the Company’s financial statements were materially false and misleading throughout the Class Period.

If you purchased Sequans shares during the class period, you have until November 8, 2011 to ask the Court to appoint you as lead plaintiff for the class. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.Peter W. Overs, Jr., Esq.Benjamin Sachs-MichaelsHarwood Feffer LLP488 Madison AvenueNew York, New York 10022Phone Numbers: (877) 935-7400(212)935-7400Email: bsachsmichaels@hfesq.comWebsite:

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ( for more information about the firm.

Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs