Financial Accounting News

Former Synchronoss Exec Beats Part of Investor Revenue Suit

May 29, 2020, 9:57 PM

A former Synchronoss Technologies Ltd. executive won’t have to face part of a would-be class action accusing the company of misleading investors through purportedly fraudulent revenue booking, a New Jersey federal district judge said Friday.

The software firm’s investors can’t pursue some of their claims because they didn’t sufficiently allege that the company and its executives acted intentionally or severely recklessly, the U.S. District Court for the District of New Jersey’s unpublished opinion said.

Synchronoss successfully fought off an earlier version of the suit in July 2019. Chief Judge Freda L. Wolfson allowed the investors to amend their complaint and...

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