Investigation announced for Investors in shares of Sequential Brands Group, Inc. (NASDAQ: SQBG)

An investigation was announced over potential securities laws violations by Sequential Brands Group, Inc. in connection with certain financial statements.

Investors who purchased shares of Sequential Brands Group, Inc. (NASDAQ: SQBG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sequential Brands Group, Inc. (NASDAQ: SQBG) concerning whether a series of statements by Sequential Brands Group, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Sequential Brands Group, Inc., together with its subsidiaries, owns various consumer brands in the active and lifestyle categories. Sequential Brands Group, Inc. reported that its annual Total Revenue declined from $169.95 million in 2018 to $101.57 million in 2019, and that its EBIT decreased from $82.18 million in 2018 to $39.9 million in 2019.

On December 11, 2020, the U.S. Securities and Exchange Commission ("SEC") issued a press release entitled "SEC Charges Sequential Brands Group Inc. with Deceiving Investors by Failing to Timely Impair Goodwill." According to the SEC's press release, "by avoiding an impairment to its goodwill in 2016, Sequential inflated its income from operations, created a false impression of its financial condition, and misstated its financial statements and reports for almost a year."

Shares of Sequential Brands Group, Inc. (NASDAQ: SQBG) closed on December 11, 2020, at $16.20 per share.

Those who purchased shares of Sequential Brands Group, Inc. (NASDAQ: SQBG) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.