Company: Syneos Health, Inc.
Class Period: May 10, 2017 — February 27, 2019
Court: U.S.D.C. - District of New Jersey
A shareholder class action lawsuit has been filed against Syneos Health, Inc. (“Syneos”) on behalf of investors who purchased shares of the Company’s stock between May 10, 2017 and February 27, 2019 (the “Class Period”).
The complaint alleges that the defendants made false and misleading statements and/or failed to disclose material adverse information to investors during the Class Period concerning the accuracy and reliability of the Company’s financial statements. Specifically, the defendants failed to disclose or indicate that: (1) Syneos’s internal control over financial reporting was inadequate; and (2) concerns regarding Syneos’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.
According to the complaint, on February 27, 2019, Syneos announced that it was delaying the release of its Form 10-K, after the SEC notified Syneos that it was investigating the Company’s revenue accounting policies and internal controls. Following this news, shares of the Company’s stock fell $10.24 per share, or nearly 20% in value, to close on February 28, 2019 at $41.77 per share.
Syneos stockholders who purchased shares of the Company’s stock before February 27, 2019 are encouraged to contact Kaskela Law LLC at (888) 715 – 1740, or by completing the information form on this page, for additional information about this action and their legal rights and options.