Sequans Communications S.A. is a fabless company that globally markets integrated circuits for 4G mobile phone technology.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Sequans was improperly recognizing revenue; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On September 29, 2017, the Court issued an Order consolidating Cases. On February 6, 2018, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated amended Complaint on April 9. Defendants filed a Motion to Dismiss the consolidated amended Complaint on November 30. On September 30, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Claims against one of the individual Defendants were dismissed.

On May 7, 2020, the parties entered into a Stipulation of Settlement. The Court issued an Order granting preliminary approval of the Settlement on May 20. On September 28, the Court granted final approval of the Settlement and entered Final Judgment. The Court issued an Order approving distribution of the Settlement on January 26, 2021.