NEW YORK, Jan. 21, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sonos, Inc. ("Sonos" or the "Company") (NASDAQ: SONO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Sonos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On May 7, 2024, Sonos launched a redesigned app that was plagued with significant issues, with users unable to perform essential functions like accessing or searching their music libraries, setting sleep timers, or even downloading the app. On October 1, 2024, following "an internal review of its app release in May", Sonos issued a press release acknowledging "missteps" and reporting that "no member of the Executive Leadership Team will accept any annual bonus payout for the October 2024 - September 2025 fiscal year unless the company succeeds in improving the quality of the app experience and rebuilding customer trust." 

On this news, Sonos's stock price fell $0.48 per share, or 3.91%, to close at $11.81 per share on October 1, 2024. 

Then, on January 13, 2025, Sonos announced the resignation of Chief Executive Officer Patrick Spence. 

On this news, Sonos's stock price fell $0.29 per share, or 2%, over the next two trading sessions, to close at $14.23 per share on January 14, 2025.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, 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 85 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.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP