Synchronoss Technologies, Inc. ("Synchronoss") provides cloud, messaging, digital, and network management platforms, products, and solutions.

According to the law firm press release, the lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Synchronoss would not be able to meet revenue guidance provided to investors; (2) as such, Synchronoss would need to revise its prior guidance; and (3) as a result, Defendants’ statements about Synchronoss’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On September 5, 2017, the Court issued an Order consolidating cases. The Consolidated Cases shall be identified as: In re Synchronoss Technologies, Inc., Securities Litigation.

On September 5, 2017, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiff filed an amended complaint on November 21. On August 24, 2018, Lead Plaintiff filed a consolidated amended Complaint. Defendants filed a Motion to Dismiss the consolidated amended Complaint on November 6. On June 28, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On August 14, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on October 4. On May 29, 2020, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

The parties entered into a Stipulation of Settlement on August 19, 2021. On August 25, the Court granted preliminary approval of the Settlement. On December 8, the Court granted final approval of the Settlement and entered Final Judgment.

On May 25, 2023, the Court issued an Order approving distribution of the net Settlement fund.