If you purchased shares of Inovalon and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 23, 2016.
About the Lawsuit
Inovalon is charged with failing to disclose material information in connection with the IPO, violating federal securities laws.
The alleged false statements and omissions include, but are not limited to, that Inovalon derives substantial revenues from sales in the City of New York and the State of New York, both of which were reforming their corporate tax schemes in order to capture more taxes from out-of-state businesses like Inovalon doing substantial business within their borders. Those corporate tax rate increases, which would take effect January 1, 2015, more than a month prior to Inovalon's IPO, significantly increased the Company's effective tax rate and thus lowered its 2015 earning potential.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/inovalon-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick--foti-llc-reminds-investors-with-losses-in-excess-of-100000-of-lead-plaintiff-deadline-in-class-action-lawsuit-against-inovalon-holdings-inc---inov-300292390.html
SOURCE Kahn Swick & Foti, LLC