The Oklahoma City-based law firm of Federman & Sherwood has launched an investigation into Sequential Brands Group Inc. with respect to possible violations of federal securities laws, the firm said in a news release.
According to the Sequential Brands Group’s website, the New York-based company “owns, manages and licenses a large-scale and diversified portfolio of consumer brands across multiple industries.”
On Dec. 11, the U.S. Securities and Exchange Commission issued a press release announcing that it had charged Sequential with failing to assess its goodwill for potential impairment.
Specifically, the press release stated that “as alleged, 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.”
On this news, Sequential’s stock price fell sharply during intraday trading on Dec. 11. People who want to dis- cuss this action, obtain further information and participate in this or any other securities litigation should contact Robin Hester at rkh@ federmanlaw.com.
Investors who bought Sequential shares before Dec. 11 and wish to join the litigation as potential lead plaintiffs should complete the investor certification at http://www.federmanlaw.com/wp-content/uploads/2020/12/InvestCertSQBGFinal.pdf.