NEW YORK, March 08, 2019 (GLOBE NEWSWIRE) -- Safirstein Metcalf LLP announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey against Syneos Health, Inc. (“Syneos” or the “Company”) (NASDAQ: SYNH) on behalf of purchasers of the securities from May 10, 2017 through February 27, 2019, inclusive (the “Class Period”).
If you purchased or acquired Syneos securities during the Class Period and would like more information about the shareholder class action, please contact Safirstein Metcalf LLP at 1-800-221-0015, or email info@SafirsteinMetcalf.com
If you wish to serve as lead plaintiff, you must move the Court no later than April 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member
The Complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) Syneos Health’s internal control over financial reporting was inadequate; (2) concerns regarding Syneos Health’s internal control over financial reporting would result in heightened regulatory scrutiny and an SEC investigation into the company’s revenue accounting policies, internal controls and related matters; and (3) as a result, defendants’ statements about Syneos Health’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
On February 27, 2019, Syneos disclosed that “on February 21, 2019, the Securities and Exchange Commission notified the Company that it has commenced an investigation into the Company’s revenue accounting policies, internal controls and related matters” and further, that its Form 10-K would be filed late pending the Company’s internal review into the matter. Following this news, shares fell $10.24, almost 20%, to close at $41.77 on February 28, 2019 on heavy volume.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
Attorney advertising. Prior results do not guarantee a similar outcome.
Safirstein Metcalf LLP
Peter Safirstein, Esq
The Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
1-800-221-0015