Securities Fraud Class Action Against Synchronoss Technologies Inc

ENGLEWOOD CLIFFS, N.J., Sept. 13, 2008 (LAWFUEL) — The law firm
of Gardy & Notis, LLP filed a securities fraud class action lawsuit on
behalf of all investors who purchased or otherwise acquired Synchronoss
Technologies, Inc. (Nasdaq:SNCR) securities for a class period between
February 4, 2008 and June 9, 2008, inclusive. The lawsuit is pending in
the United States District Court for the District of New Jersey, and
names as defendants Synchronoss, Stephen G. Waldis (President, CEO and
Chairman) and Lawrence R. Irving (CFO and Treasurer).

Synchronoss provided technology to AT&T that allowed AT&T, as the
exclusive U.S. service provider of the Apple iPhone, to “lock” Apple
iPhones distributed to AT&T’s wireless phone customers. The complaint
filed by Gardy & Notis, LLP alleges that defendants failed to disclose
to investors numerous warning signs that the unlocking of iPhones
jeopardized Synchronoss’s iPhone contract with AT&T. While Apple
iPhones were extensively being unlocked for use with other wireless
carriers, Synchronoss continued to maintain that its future prospects
for growth were positive. However, on June 9, 2008, AT&T announced that
Synchronoss would not be activating the iPhone 3G, which was released
in July of 2008. Instead, the iPhone 3G is activated in-store,
effectively removing Synchronoss from the transaction altogether. In
reaction to the news, Synchronoss stock fell over 17%, from $13.31 to
$11.03 per share.

There is a November 7, 2008 deadline for investors who purchased or
acquired Synchronoss securities during the class period to move and
request that the Court appoint you as lead plaintiff. Your share in any
recovery will not be enhanced or diminished by the decision whether or
not to serve as a lead plaintiff.

To learn more about the lawsuit, please contact Charles Germershausen
at Gardy & Notis, LLP, by telephone at 201-567-7377, or by email at
[email protected] A copy of the complaint filed in the
lawsuit is available from the court or by contacting Gardy & Notis,
LLP.

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