BRIDGEWATER, N.J.--(BUSINESS WIRE)--Jun. 8, 2018--
Synchronoss Technologies, Inc. (NASDAQ:SNCR) (“Synchronoss” or the
“Company”), a global leader and innovator of cloud, messaging, digital
and IoT products, today announced that it has received an anticipated
letter from the Listing Qualifications Department of The Nasdaq Stock
Market notifying the Company that its failure to file its Quarterly
Report on Form 10-Q for the period ended March 31, 2018 would serve as a
basis for potentially delisting the Company’s securities from The Nasdaq
Stock Market.
A previously disclosed, the Company’s common stock was suspended from
trading on Nasdaq on May 14, 2018. The Company has appealed the decision
to the Nasdaq Listing and Hearing Review Council. During the appeal
period, trading in the Company’s common stock on Nasdaq will remain
suspended and Nasdaq will not effect a delisting of the Company’s common
stock. Once the Company has regained compliance with its SEC reporting
obligations, the Company intends to request Nasdaq lift the suspension
and allow the Company’s common stock to recommence trading on Nasdaq. As
previously disclosed, the Company anticipates regaining compliance with
its SEC reporting obligations no later than June 30, 2018.
About Synchronoss
Synchronoss transforms the way companies create new revenue, reduce
costs and delight their subscribers with cloud, messaging, digital and
IoT products, supporting hundreds of millions of subscribers across the
globe. Synchronoss’ secure, scalable and groundbreaking new
technologies, trusted partnerships and talented people change the way
Technology-Media-Telecommunications customers grow their business. For
more information, visit us at www.synchronoss.com
Forward-looking Statements
Certain statements either contained in or incorporated by reference into
this report, are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. For this purpose, any
statements contained herein that are not statements of historical fact
may be deemed to be forward-looking statements. Without limiting the
foregoing, the words “may,” “should,” “expects,” “plans,” “anticipates,”
“could,” “intends,” “believes,” “potential” or “continue” or other
similar expressions are intended to identify forward-looking statements.
Synchronoss has based these forward-looking statements largely on its
current expectations and projections about future events and financial
trends that it believes may affect its business, financial condition and
results of operations. These forward-looking statements speak only as of
the date of this press release and are subject to a number of risks,
uncertainties and assumptions including, without limitation, risks and
uncertainties relating to the ultimate timing and results of the
Company’s restatement of its financial statements, its ability to regain
compliance with its SEC reporting obligations and other factors that are
described in the “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” sections of
the Company’s Annual Report on Form 10-K for the year ended December 31,
2016, which is on file with the SEC and available on the SEC’s website
at www.sec.gov.
Additional factors may be described in those sections of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2017 and
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2017,
June 30, 2017, September 30, 2017 and March 31, 2018, to be filed with
the SEC as soon as practicable. The Company does not undertake any
obligation to update any forward-looking statements contained in this
report as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180608005721/en/
Source: Synchronoss Technologies, Inc.
Media
For Synchronoss Technologies, Inc.
Brian Denyeau,
+1 646-277-1251
investor@synchronoss.com