RADNOR, Pa., — The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the District of New Jersey against Syneos Health, Inc. (Nasdaq: SYNH) (“Syneos”) on behalf of purchasers of Syneos securities between May 10, 2017 through February 27, 2019, inclusive (the “Class Period”).
Important Deadline: Investors who purchased Syneos securities during the Class Period may, no later than April 30, 2019, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please visit www.ktmc.com/syneos-securities-class-action.
According to the complaint, Syneos operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America.
The Class Period commences on May 10, 2017, when Syneos filed a Form 10-Q providing its first quarter 2017 financial results and position. The Form 10-Q stated that there were no changes in Syneos’ internal controls over financial reporting during the period covered by the report that materially affected, or was reasonably likely to materially affect, Syneos’ internal controls over financial reporting.
The complaint alleges that on February 27, 2019, after market hours, Syneos announced it was delaying the release of its Form 10-K for the year ended December 31, 2018, after the SEC notified Syneos that it was investigating its revenue accounting policies and internal controls.
Following this news, shares of Syneos fell $10.24 per share, or 19.69%, to close at $41.77 per share on February 28, 2019.
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.
If you wish to discuss this securities fraud class action lawsuit or have any questions concerning this notice or your rights or interests with respect to this litigation, please contact Kessler Topaz Meltzer & Check (James Maro, Jr., Esq. or Adrienne Bell, Esq.) at (888) 299–7706 (toll free) or (610) 667–7706, or via e-mail at [email protected].
Syneos investors may, no later than April 30, 2019, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.