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Glancy Prongay & Murray Reminds Investors of the January 30, 2018 Deadline in the Class Action Lawsuit Against Syneos Health, Inc. (formerly INC Research Holdings, Inc.) Investors

Nachrichtenquelle: Business Wire (engl.)
23.01.2018, 20:56  |  202   |   |   

Glancy Prongay & Murray LLP (“GPM”) reminds investors of the January 30, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Syneos Health, Inc. (“Syneos” or the “Company”) (NASDAQ: INCR) securities between May 10, 2017, and November 9, 2017, inclusive (the “Class Period”). Syneos investors have until January 30, 2018 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Syneos page on our website www.glancylaw.com/case/inc-research-holdings-inc

Investors suffering losses on their Syneos investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On August 1, 2017, the Company announced that it completed a merger (the “Merger”) with inVentiv Health, Inc. (“inVentiv”). And, the Company represented to investors that the Merger was the beginning of an industry changing company, with high expectations for revenue growth and profitability. However, on November 9, 2017, the first quarter after the Merger, INCR reported a net loss of $88.9 million, as well as impairment charges to the Company’s intangible assets. Analysts noted that the Company’s fourth quarter guidance was worrisome given the challenges that inVentiv’s commercial business faced.

On this news, the Company’s stock price fell $16.35 per share, or 28.4%, to close at $41.15 per share on November 9, 2017, on unusually heavy trading volume. The Company’s share price continued to fall over the next three trading sessions, closing on November 14, 2017 at $34.35 per share, a total decline of $23.15 per share, or 40.3%.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Merger was not providing the benefit that Defendants stated it would; (2) that inVentiv was underperforming; (3) that, as a result, the Company’s 2017 financial performance would be negatively impacted; and (4) that, as a result of the foregoing, Defendants’ statements about INCR’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Syneos during the Class Period you may move the Court no later than January 30, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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