Sequans Communications SA ADR Under Investor Investigation Over Possible Violations Of Securities Laws

If you purchased shares of Sequans Communications SA ADR (NYSE:SQNS) between April 15, 2011 and July 27, 2011, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Sequans Communications
Affected Securities: 
NYSE: SQNS

San Diego, Sept. 8, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Sequans Communications SA ADR (NYSE: SQNS) over possible Violations of Federal Securities Laws was announced.

The investigation by a law firm focuses on possible NYSE:SQNS shareholder claims based on potential violations of the federal securities laws. Specifically the investigation concerns certain statements regarding Sequans Communications’ business, its prospects and its operations were materially false and misleading at the time they were made.

Despite an increase in its annual Revenue Sequans Communications SA was not able to pull out of a Net Loss. Sequans Communications SA reported an increase in its 12months Total Revenue from $13.98million in 07 to $68.54million in 2010. However it reported over the same time frame Net Loss ranging between $2.69million and $16.87million. Additionally, even though Sequans Communications SA reported an increase in its second quarter Revenue from $16.64million last year to $30.61million for this year’s second quarter, its second quarter Net Income fell from $0.59million to $0.06million for the second quarter in 2011.

Shares of Sequans Communications SA ADR (NYSE: SQNS) rose from $7.96 in April 2011 to as high as $19.17 on May 31, 2011 and continued to trade for the most part of July 2011 above $15 per share.

Then on July 28, 2010, Sequans Communications SA announced its second quarter 2011 financial results. Among other things, Sequans Communications SA also issued its third quarter 2011 and second half 2011 revenue quidance.

NYSE: SQNS stocks fell from $15.43 on July 27, 2011 to $5.70 on August 8, 2011 and traded recently at $5.77 per share.