On November 17, 2020, after market hours, Sonoma filed a Form 8-K with the U.S. Securities and Exchange Commission announcing that Sonoma’s “unaudited condensed consolidated interim financial statements for the quarter ended June 30, 2020 should no longer be relied upon.” Sonoma continued that the financial statements for this time period “contained material errors” and that “the Company will need to restate them.”

On this news, Sonoma’s share price fell $1.10 per share, or more than 14%, over the next few trading days to close at $6.63 per share on November 20, 2020.

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