Synchronoss Receives Positive Nasdaq Panel Decision
February 08 2018 - 8:24AM
Business Wire
Company to Host Business Update Call for
Investors in Mid-to-Late March
Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader
and innovator in cloud, messaging and digital products, today
announced that it received a positive decision from the Nasdaq
Hearings Panel, which granted the Company an extension to regain
compliance with Nasdaq’s listing requirements.
Under the extension, the Company’s common stock will remain
listed on the Nasdaq Stock Market, subject to the Company becoming
current with its SEC filings on or before May 10, 2018. The
extension is also subject to the Company providing the Panel with
periodic updates regarding its ongoing restatement of its financial
statements and an investor update on or before March 31, 2018.
The Panel’s positive decision follows an in-person hearing
before the Panel at which the Company shared its progress to date
and its plan to become current in its SEC filings on or before May
10, 2018. The Company also shared with the Panel its intention to
host a business update call with the investment community during
mid-to-late March, 2018, during which the Company will provide
investors with a qualitative update on the business and progress
against the Company’s growth initiatives since it appointed a new
CEO, Glenn Lurie.
The Company will issue a separate release announcing the
specific date, time and dial-in instructions for the business
update call.
About SynchronossSynchronoss transforms the way companies
create new revenue, reduce costs and delight their subscribers with
cloud, messaging and digital products supporting hundreds of
millions of subscribers across the globe. Synchronoss’ secure,
scalable and groundbreaking new technologies, trusted partnerships
and talented people change the way TMT customers grow their
business. For more information visit us at:
www.synchronoss.com.
Forward-looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, but are not
limited to, plans, objectives, expectations and intentions and
other statements contained in this press release that are not
historical facts and statements identified by words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “outlook” or words of similar meanings. These
statements are based on the Company’s current expectations and
beliefs and various assumptions. There can be no assurance that the
Company will realize these expectations or that these beliefs will
prove correct. Examples of forward-looking statements include, but
are not limited to, statements the Company makes regarding the
Company’s ability to regain compliance with Nasdaq’s continued
listing requirements. Numerous factors, many of which are beyond
the Company’s control, could cause actual results to differ
materially from those expressed as forward-looking statements.
These factors include, but are not limited to, risks associated
with the ongoing and uncompleted nature of the Company’s accounting
review and other factors that are described in the “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” sections of the Company’s Annual Report
on Form 10-K for the year ended December 31, 2016, which is on file
with the SEC and available on the SEC’s website at www.sec.gov.
Additional factors may be described in those sections of the
Company’s Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2017 and June 30, 2017 and September 30, 2017, to be
filed with the SEC as soon as practicable. The Company does not
undertake any obligation to update any forward-looking statements
contained in this press release as a result of new information,
future events or otherwise.
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Synchronoss Technologies, Inc.Seth Potter, +1
646-277-1230investor@synchronoss.com