Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Syneos Health, Inc. (SYNH) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Syneos Health, Inc. (“Syneos” or the “Company”) (NASDAQ: SYNH) common stock between September 9, 2020 and November 3, 2022, inclusive (the “Class Period”). Syneos investors have until September 25, 2023 to file a lead plaintiff motion.

If you suffered a loss on your Syneos investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Syneos-Health-Inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On February 17, 2022, 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. On this news, Syneos’s stock price fell $4.01, or 4.8%, to close at $79.36 on February 17, 2022, thereby injuring investors.

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

Then, 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. On this news, Syneos’s stock price fell $8.65, or 13.6%, to close at $54.72 per share on September 13, 2022.

On November 4, 2022, Syneos revealed that its book-to-bill ratios had fallen lower than expected. Specifically, the Company 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. On this news, Syneos’s stock price fell $22.11, or 46.2%, to close at $25.70 on November 4, 2022, thereby injuring investors further.