TRENTON, N.J. (Legal Newsline) — A firefighters' pension fund has filed a class action lawsuit against Synchronoss Technologies Inc., Stephen G. Waldis, Ronald W. Hovsepian, Karen L. Rosenberger and John Frederick, alleging violation of federal law.
The City of Atlanta Firefighters' Pension Fund filed a complaint on behalf of all others similarly situated on June 14 in U.S. District Court for the District of New Jersey against the defendants alleging that they made false statements regarding their company's financials in order to influence stock prices.
According to the complaint, the plaintiff alleges that its organization was damaged from purchasing securities at inflated prices. The plaintiff holds the defendants responsible because the defendants allegedly made false representations regarding the financial earnings of the company in order to artificially inflate securities prices.
The plaintiff requests a trial by jury and seeks class damages, interest, court costs, and any further relief this court grants. They are represented by James E. Cecchi of Carella, Byrne, Cecchi, Olstein, Brody & Agnello P.C. in Roseland.
U.S. District Court for the District of New Jersey case number 3:17-cv-04326-FLW-LHG