NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Sonder Holdings Inc. (“Sonder” or the “Company”) (NASDAQ: SOND). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Sonder and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until June 10, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired The Children’s Place securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On March 15, 2024, after market hours, Sonder issued a press release announcing that the Company’s audited financial statement for its 2022 Annual Report, as well as the Company’s unaudited consolidated financial statements in 2023 (collectively with the 2022 Annual Report, the “Affected Financial Statements”), should no longer be relied upon due to “accounting errors related to the valuation and impairment of operating lease ROU [right of use] assets and related items.” Sonder stated that it “intends to restate the Affected Financial Statements” and that it “expects that the restatements will increase the Company’s overall net loss and loss per share in the impacted periods.”
On this news, Sonder’s stock price fell $2.10 per share, or 38.2%, to close at $3.40 per share on March 18, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
