RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Syneos Health, Inc. (“Syneos” or the “Company”) (NASDAQ: SYNH) between May 10, 2017 through February 27, 2019, inclusive (the “Class Period”).
Syneos shareholders may, no later than April 30, 2019, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Syneos and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Syneos’ internal controls over financial reporting were inadequate; (2) concerns regarding Syneos’ internal controls over financial reporting would result in heightened regulatory scrutiny and an SEC investigation into Syneos’ revenue accounting policies, internal controls and related matters; and (3) as a result, the defendants’ statements about Syneos’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
On February 27, 2019, after market hours, Syneos announced that it was delaying the release of its Form 10-K for the year ended December 31, 2018, after the U.S. Securities and Exchange Commission notified the Company that it was investigating its revenue accounting policies and internal controls. Syneos advised investors that its management and Audit Committee were each conducting a review of the Company’s internal controls and/or accounting policies, amongst other things.
On this news, Syneos’s stock price fell $10.24 per share, or 19.69%, to close at $41.77 per share on February 28, 2019.
If you are a member of the class, you may, no later than April 30, 2019, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.