NEW YORK, April 6, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sierra Wireless, Inc. ("Sierra" or the "Company") (NASDAQ: SWIR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Sierra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 23, 2021, Sierra Wireless issued a press release announcing that the Company "discovered it was the subject of a ransomware attack on its internal IT systems on March 20, 2021." The Company stated that "[a]s a result of the ransomware attack, Sierra Wireless halted production at its manufacturing sites" and that its "website and other internal operations have also been disrupted by the attack." Further, the Company stated that "[d]ue to these disruptions, Sierra Wireless is at this time withdrawing the First Quarter 2021 guidance it provided on February 23, 2021."
Following this news, Sierra Wireless's stock price fell $2.07 per share, or 11.95%, to close at $15.25 per share on March 23, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP