LOS ANGELES, Feb. 1, 2021 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sonoma Pharmaceuticals, Inc. (“Sonoma” or “the Company”) (NASDAQ: SNOA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sonoma filed an 8-K with the SEC on November 17, 2020. The filing announced that the Company’s “unaudited condensed consolidated interim financial statements for the quarter ended June 30, 2020 should no longer be relied upon.” The Company added that the financial statements “contained material errors” and that “the Company will need to restate them.” Based on these facts, the Company’s shares fell by more than 14% on the next trading day.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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