Final Deadline Approaching for Syneos Health, Inc. Investors

Kessler Topaz Meltzer & Check, LLP Reminds Syneos Health, Inc. (SYNH) Investors of September 25, 2023 Lead Plaintiff Deadline - Seite 2

The truth began to be revealed on February 17, 2022, when Syneos disclosed that its reimbursable expenses would likely never recover to pre-pandemic levels and that $3.8 billion of the company’s Clinical Solutions backlog was at risk of never being collected. Following this news, Syneos’s stock price fell $4.01, or 4.8%, to close at $79.36 on February 17, 2022.

Then, on August 2, 2022, Syneos revealed that net new business awards within the Clinical Solutions segment had declined by approximately 34%. Additionally, Syneos reduced its expected revenue for 2022 by $185 million. Following this news, Syneos’s stock price fell $13.94, or 17.6%, to close at $65.20 on August 2, 2022.

On September 13, 2022, Syneos disclosed that it expected to announce a book-to-bill ratio in its Clinical Solutions segment in the range of 1.05x to 1.15x, excluding reimbursable expenses. Following this news, Syneos’s stock price fell $8.65, or 13.6%, to close at $54.72 per share on September 13, 2022.

Finally, on November 4, 2022, Syneos revealed that its book-to-bill ratios had fallen lower than expected. Specifically, Syneos stated that its Clinical Solutions segment had a reimbursable expenses decline of 87% and a book-to-bill ratio of just 0.18x for the quarter, which was just one-tenth of the new business growth expected. Following this news, Syneos’s stock price fell $22.11, or 46.2 %, to close at $25.70 on November 4, 2022.

WHAT CAN I DO?

Syneos investors may, no later than September 25, 2023, move the Court to serve as lead plaintiff for the class, through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Syneos investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Syneos, captioned United Association of Plumbers and Pipefitters, Journeymen, Local #38 Defined Benefit Pension Plan v. Syneos Health, Inc., et al. Case No. 23-cv-06548, is filed in the United States District Court for the Southern District of New York before the Honorable Edgardo Ramos.