BALA CYNWYD, PA / ACCESSWIRE / January 12, 2018 / On behalf of the Law office of Brodsky & Smith, LLC, notice is hereby given that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased or otherwise acquired INC Research Holdings, Inc. ("INCR" or the "Company") (NASDAQ: INCR) securities between May 10, 2017 and November 9, 2017, both dates inclusive (the "Class Period"). The class action seeks to recover damages against Defendants for alleged violations of federal securities laws.
Click here to learn more http://www.brodskysmith.com/cases/inc-research-holdings-inc-nasdaq-incr/ , or call: 877-534-2590. There is no cost or obligation to you.
INCR provides clinical development services to pharmaceutical, biotechnology, and medical device companies.
On August 1, 2017, INCR announced that it completed a merger (the "Merger") with inVentiv Health, Inc. ("inVentiv"). At that time, INCR represented to investors that the Merger was the beginning of an "industry-changing new company, purpose-built to achieve the singular goal of accelerating biopharmaceutical performance."
The lawsuit alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Merger was not providing the benefit that Defendants stated it would; (2) that inVentiv was underperforming; (3) that, as a result, the Company's 2017 financial performance would be negatively impacted; and (4) that, as a result of the foregoing, defendants' statements about INCR's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 9, 2017, INCR reported a quarterly net loss of $88.9 million (as compared to income of $39.4 million for the 2016 comparable quarter). The Company disclosed that its quarterly operating results - for the first quarter following the Merger - had been impacted by: (i) Merger-related transaction expenses of $84.3 million, (ii) an impairment charge of $30.0 million, and (iii) an increase in amortization expense of $41.9 million due to the acquisition of intangible assets as a result of the Merger.
On this news, INCR's share price fell $16.35, or approximately 28%, to close at $41.15 on November 9, 2017.
If you are a member of the class described above, and suffered a financial loss during the class period, by no later than January 30, 2018 you may seek to be appointed as a lead plaintiff representative of the class. Your ability to share in any recovery does not require that you serve as lead plaintiff.
If you wish to discuss the legal ramifications of the action, or have any questions, you may call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/inc-research-holdings-inc-nasdaq-incr/ , or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC