{"id":459185,"date":"2021-03-16T16:47:42","date_gmt":"2021-03-16T20:47:42","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=459185"},"modified":"2021-03-16T16:47:42","modified_gmt":"2021-03-16T20:47:42","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-sequential-brands-group-inc-sqbg","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-sequential-brands-group-inc-sqbg\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Sequential Brands Group, Inc. (SQBG)"},"content":{"rendered":"
\n

NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Sequential Brands Group, Inc. (\u201cSequential Brands\u201d) (NASDAQ: SQBG) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Sequential Brands between November 3, 2016 and December 11, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for investors under the federal securities laws.<\/p>\n

The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) in late 2016, the Company knew or should have known that its goodwill was likely impaired; (ii) the Company avoided and delayed the material write down to goodwill in late 2016 through 2017; (iii) 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; (iv) the Company\u2019s internal controls were deficient; (v) the Company has failed to restate, correct, or disclose relevant improprieties, deceptive conduct, misstatements, omissions, and control violations; (vi) as a result of the foregoing, the Company was at greater risk of regulatory scrutiny and enforcement; and (vii) as a result, Defendants\u2019 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.<\/p>\n

Investors who purchased or otherwise acquired shares of Sequential Brands during the Class Period should contact the Firm prior to the May 17, 2021 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.\u00a0 If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Sequential Brands Group, Inc. (\u201cSequential Brands\u201d) (NASDAQ: SQBG) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Sequential Brands between November 3, 2016 and December 11, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for investors under the federal securities laws. The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) in late 2016, the Company knew or should have known that its goodwill was likely impaired; (ii) the Company avoided and delayed the … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Sequential Brands Group, Inc. (SQBG)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-459185","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Sequential Brands Group, Inc. 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