Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in INC Research Holdings (NASDAQ:INCR) in connection to alleged violations of securities laws by INCR. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in INC Research Holdings between May 10, 2017 and November 9, 2017.
The class action complaint specifically alleges that during the period in question, INCR might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company’s merger with InVentiv Health had not provided benefits which INC Research Holdings had predicted; that InVentiv was performing below expectations; that consequently INC’s performance in 2017 would suffer as well; and that consequently the company’s statements to the public during the relevant period were false and misleading. When the company completed its merger with InVentiv health on August 1, 2017, it informed investors that the merger marked the start of an “industry-changing new company, purpose-built to achieve the singular goal of accelerating biopharmaceutical performance.” When the company reported, on November 9, 2017, a quarterly net loss from operations totaling $88.9 million, it disclosed that its operating results had been negatively affected by expenses and charges relating to the merger. Upon this news, shares in INCR fell more than 28%, or $16.35/share, and closed at $41,15/share on November 9, 2017; over the subsequent three days of trading, INCR fell another $6.80/share. The complaint alleges that when true facts about the merger came to light, investors suffered losses.
According to the company’s website, INC Research Holdings is a contract research organization “built on therapeutic depth.” It ensures that clinical trials are run by experts, and has specialist experience in such areas as: Cardiovascular, CNS Analgesia, CNS Neurology, CNS Psychiatry, Endocrinology, Gastroenterology/Hepatology, Global Consulting, Infectious Disease, Oncology, Respiratory, Women’s Health and more. The company reports that it has 6,600 employees in more than 110 countries, working “across the board with pharmaceutical and biotech companies both large and small.” It trades on the Nasdaq exchange under the symbol INCR.
A class action lawsuit has already been filed in connection with INC Research Holdings. If you wish to serve as lead plaintiff in the INCR lawsuit, you must move the Court no later than January 30, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.