SAN DIEGO and PALATINE, Ill., March 25, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating potential violations of federal securities laws on behalf of investors of Addus HomeCare Corporation (NASDAQ: ADUS). Addus HomeCare provides home and community based services to older adults and younger disabled persons in the United States.
Addus HomeCare Shares Fall on Disclosure of Weak Internal Controls
Shares of Addus HomeCare fell $5.94, or 20.37%, to close at $23.22 on March 13, 2014, following a disclosure by the company concerning weaknesses in its internal controls. Specifically, on March 12, 2014, Addus revealed that as of the end of its second quarter of 2013, the company became subject to the requirements of section 404 of the Sarbanes-Oxley Act of 2002. Under the Act, Addus is required to have its internal controls over financial reporting audited. According to the disclosure, "material weaknesses in internal controls over financial reporting existed as of December 31, 2013, principally related to general controls over its information technology, including user access and change management activities and to overall controls related to its payroll system and related processes."
Addus HomeCare Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo LLP
If you invested in Addus HomeCare and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the information form on the firm's shareholder rights blog: www.robbinsarroyo.com/shareholders-rights-blog/addus-homecare-corporation
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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SOURCE Robbins Arroyo LLP