LOS ANGELES, Oct. 5, 2017 /PRNewswire/ -- Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against MAXIMUS, Inc. ("MAXIMUS" or the "Company") (NYSE: MMS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between October 30, 2014 and February 3, 2016, inclusive (the "Class Period"), are encouraged to contact the firm before October 6, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm's website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, MAXIMUS made false and/or misleading statements and/or failed to disclose: that in obtaining the Health Assessment Advisory Service ("HAAS") contract from the United Kingdom Department for Work and Pensions, the Company set an unattainable target number of healthcare professionals to recruit and an unattainable target number of assessments; that throughout the HAAS contract, MAXIMUS was struggling to recruit, train and ramp-up new health care staff to perform the assessments; that the inability to meet its target number of healthcare recruits and target number of assessments, meant the Company would not earn the performance-based incentive fees from the HAAS contract; and that as a result of the above, the Company's statements about its financial condition and business outlook lacked a reasonable basis. On February 4, 2016, MAXIMUS announced its earnings for the first quarter of 2016, again missing expectations and confirming its inability to meet HAAS contract assessment targets. The reduced earnings were based in part on weak performance of the HAAS contract, which "tempered operating margin." When this news was announced, the Company's stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE Goldberg Law PC