LOS ANGELES, May 24, 2024 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Sonder Holdings Inc. (“Sonder” or “the Company”) (NASDAQ: SOND) for for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between March 16, 2023 and March 15, 2024, inclusive (the “Class Period”), are encouraged to contact the firm before June 10, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Sonder failed to maintain appropriate controls over financial reporting. The Company’s financial statements from 2022 and multiple periods in 2023 contained multiple errors related to the valuation and impairment of operating lease right-of-use (“ROU”) assets. The Company would be forced to restate its financial statements for multiple periods. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Sonder, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE The Schall Law Firm
