SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Synchronoss Technologies, Inc. of Class Action Lawsuit and Upcoming Deadline - SNCR

NEW YORK, June 16, 2017

If you are a shareholder who purchased Synchronoss securities between December 6, 2016 and April 26, 2017, both dates inclusive, you have until June 30, 2017 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. 

[Click here to join this class action]

Synchronoss provides mobile solutions for Service Providers and Enterprise through scalable software solutions and platforms. The Company purports to simplify the creation and management of customer and employee experiences associated with identity, cloud, messaging, applied analytics, and secure mobility. 

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) Intralinks was underperforming; (ii) as such, the Company's guidance was overstated; and (iii) as a result of the foregoing, Synchronoss's public statements were materially false and misleading at all relevant times.   

On April 27, 2017, the Company issued a press release entitled "Synchronoss Announces Management Changes; Company Issues Preliminary First Quarter 2017 Results." Therein, the Company disclosed that it expected "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 it expected operating margins of 8% to 10% which was also less than previously announced guidance. The Company stated that it was "disappointed with [its] Q1 performance in this first quarter following our acquisition of Intralinks." The Company further disclosed that its Chief Executive Officer ("CEO"), Ronald Hovsepian, and its Chief Financial Officer ("CFO"), John Frederick were leaving the Company.

On this news, the Company's stock price fell $11.33 per share, or 46%, to close at $13.29 per share on April 27, 2017, on unusually heavy trading volume.