Investigation announced for Long-Term Investors in shares of Sierra Wireless, Inc. (NASDAQ: SWIR)

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Sierra Wireless, Inc.

Investors who purchased shares of Sierra Wireless, Inc. (NASDAQ: SWIR) 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 concerns whether certain Sierra Wireless, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Canada based Sierra Wireless, Inc., together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Sierra Wireless, Inc. reported that its annual Total Revenue declined from $713.51 million in 2019 to $448.58 million in 2020, and that its Net Loss declined from $70.53 million in 2019 to $49.34 million in 2020.
On March 23, 2021, Sierra Wireless, Inc announced that the Company "discovered it was the subject of a ransomware attack on its internal IT systems on March 20, 2021." Sierra Wireless, Inc stated that "[a]s a result of the ransomware attack, Sierra Wireless halted production at its manufacturing sites" and that its "website and other internal operations have also been disrupted by the attack." Further, the Company stated that "[d]ue to these disruptions, Sierra Wireless is at this time withdrawing the First Quarter 2021 guidance it provided on February 23, 2021."

Shares of Sierra Wireless, Inc. (NASDAQ: SWIR) declined to as low as $14.25 per share on March 30, 2021.

Those who purchased shares of Sierra Wireless, Inc. (NASDAQ: SWIR) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.