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NEW YORK, May 13, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sequential Brands Group, Inc. ("Sequential" or the "Company") (NASDAQ: SQBG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Sequential and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 9, 2017, Sequential issued a press release entitled "Sequential Brands Group Announces Third Quarter 2017 Financial Results" (the "November 2017 Press Release"). The November 2017 Press Release announced that "[i]ncluded in the net loss for the third quarter 2017 were non-cash impairment charges of $36.5 million for indefinite-lived intangible assets related to the trademarks of five of the Company's non-core brands[,]" marking the first time the Company noted its need for impairment charges related to intangibles and its assets generally. On this news, Sequential's stock price fell $36.80 per share, or 38%, to close at $58.00 per share on November 9, 2017.