Why did Verizon sign a 5 year deal with a vendor that has been under investigation by the SEC, has not released earnings in over year, and is subject of numerous class action shareholder lawsuits?
As Verizon continues to lay off qualitied employees, how can company sign an unheard of 5 year deal with a vendor under such a dark cloud?
See press release:
March 22, 2018 08:00 AM Eastern Daylight Time BRIDGEWATER, N.J.--(BUSINESS WIRE)--Synchronoss Technologies, Inc. (NASDAQ:SNCR), a global leader and innovator of cloud, messaging, digital and IoT products, today announced that it has renewed its existing agreement with Verizon to power Verizon’s Cloud solution for its wireless customers for an additional five years. Synchronoss’ Personal Cloud Platform and solutions will continue to provide Verizon customers with simple, secure access to all personal content, including photos, videos, messages and more, from any device.
https://www.businesswire.com/news/home/20180322005339/en/Synchronoss-Renews-Agreement-Power-Verizon-Cloud
And this:
SAN DIEGO, CA / ACCESSWIRE / December 12, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NASDAQ: SNCR shares against Synchronoss Technologies, Inc. over alleged violations of Securities Laws.
https://finance.yahoo.com/news/lawsuit-investors-synchronoss-technologies-inc-144500577.html