NEW YORK, Dec. 5, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is notifying investors that class action lawsuits have been filed against INC Research Holdings, Inc. (NASDAQ: INCR) ("INC" or the "Company") and certain of its officers, related to alleged violations of federal securities laws. If you purchased shares of INC common stock between May 10, 2017, and November 9, 2017, you are encouraged to a contact a Scott+Scott attorney at (844) 818-6980 for additional information.
INC is a clinical research company that provides phase I to phase IV clinical development services to pharmaceutical, biotechnology, and medical device companies. On August 1, 2017, INC announced that it completed a merger with inVentiv Health, Inc. ("inVentiv") and represented that the merger was the beginning of an industry changing company, with high expectations for revenue growth and profitability.
However, on November 9, 2017, the first quarter after the merger, INC reported a net loss of $88.9 million, as well as impairment charges to the Company's intangible assets. Analysts noted that the Company's fourth quarter guidance was "worrisome" given the challenges that inVentiv's business faced.
On this news, INC's stock price fell $16.35 per share, or 28.4%, to close at $41.15 per share on November 9, 2017, on unusually heavy trading volume. The Company's share price continued to fall over the next three trading sessions, closing on November 14, 2017 at $34.35 per share, a total decline of $23.15 per share, or 40.3%.
The lawsuit alleges that Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about INC's business, operations, and prospects, specifically regarding the merger and inVentiv.
What You Can Do
If you purchased INC common stock between May 10, 2017, and November 9, 2017, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at firstname.lastname@example.org. Investors have until January 30, 2018, to move for lead plaintiff.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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