Syneos investors may receive additional information about the case by clicking the link "Submit Your Information" above.
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 are a member of the class described above, you may no later than April 30, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com