Recent Investigations

Sequans Communications S.A.

Sequans Communications S.A., together with its subsidiaries, designs, develops, and supplies 4G semiconductor solutions for wireless broadband applications. The Company was founded in 2003 and is based in Paris, France.

A securities class action was filed on September 9, 2011 in the New York Southern District Court, Civil Action No. 1:11cv06341, on behalf of all persons who purchased the American Depositary Shares of Sequans Communications S.A. pursuant and/or traceable to the Company’s initial public offering on or about April 15 2011, as well as purchasers of the Company’s ADS during the class period of April 15, 2011 through July 27, 2011.

The complaint alleges that defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) revenues from the Company’s WiMAX products were declining; (b) the Company was not in position to generate any meaningful revenues from sales of 4G LTE products until late 2012; (c) the Company’s largest customer, HTC, and the industry in general, was focusing more on 4G LTE offerings as opposed to WiMAX offerings, including WiMAX products offered by the Company; (d) the Company would not experience sales growth during 2011 and in fact would experience sales declines during that period; (e) the Company was becoming increasingly more dependent upon sales from its largest customer, HTC, and sales from that customer had declined and would continue to decline; and (f) as a result of the foregoing, defendants’ positive statements about the Company were lacking in a reasonable basis of fact and were materially false and misleading when made.

If you purchased shares in the IPO or thereafter, contact Jeffrey Wittenberg at (310) 295-2010.