NEW YORK, April 27, 2017 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP
(www.kaplanfox.com) is investigating claims on behalf of investors
of Synchronoss Technologies, Inc. ("Synchronoss" or the "Company")
(NASDAQ: SNCR). Investors who purchased shares of Synchronoss
securities may be affected.
On February 27, 2017 before the
market opened, Synchronoss issued a press release announcing the
departures of Chief Executive Officer Ronald Hovsepian ("Hovsepian") and Chief
Financial Officer John Frederick
("Frederick") "to pursue other interests." Both Hovsepian and
Frederick had only served in their respective positions for a few
months - Hovsepian had served as CEO since the recent acquisition
of Intralinks Holdings, Inc. that closed in January 2017, and Frederick had served as CFO
since the announcement of his appointment on February 27, 2017.
Additionally, the February 27,
2017 press release disclosed that Synchronoss "expects total
revenue for the first quarter of 2017 to be $13 million to $14 million less than the
company's previously announced guidance" and that "[o]perating
margins are expected to be 8% to 10%, which are less than
previously announced guidance"
Following this news, the price of Synchronoss' common stock
plunged in intraday trading by more than 47%.
If you are an investor in Synchronoss and would like to discuss
our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952. This press
release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-announces-investigation-of-synchronoss-technologies-inc-300447275.html
SOURCE Kaplan Fox &
Kilsheimer LLP