SHAREHOLDER ALERT: Potential Recovery for Syneos Health, Inc. (SYNH) Investors Affected by Stock Drop – Levi & Korsinsky Pursuing Class Action Lawsuit
News provided byACCESSWIRE
Sep 19, 2023, 4:30 PM ET
NEW YORK, NY / ACCESSWIRE / September 19, 2023 / If you suffered a loss on your Syneos Health, Inc. (NASDAQ:SYNH) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
or contact Joseph E. Levi, Esq. via email at email@example.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against Syneos Health, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between September 9, 2020 and November 3, 2022.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (a) Syneos's business development capabilities had been materially impaired by workforce reductions and leadership and operational changes, as well as labor force turmoil caused by the COVID-19 pandemic; (b) Syneos had struggled to integrate recent acquisitions, causing the Company to suffer from a bloated and confused organizational structure and impairing the Company's ability to provide comprehensive or effective customer engagement across its product portfolio; (c) Syneos was suffering from acute competitive disadvantages as clinical trials moved to remote monitoring and decentralized administration, as the Company lacked the tools possessed by some of its rivals to successfully run remote and decentralized trials, such as certain data visualization and statistical modeling capabilities, and the Company had failed to adapt to changing business demands in the wake of the COVID-19 pandemic; (d) Syneos's backlog, book-to-bill ratios, and net new business awards had been artificially inflated by more than $500 million through the inclusion of reimbursable expenses that the Company would never collect; (e) as a result of (a)-(d) above, Syneos was struggling to execute on its existing contracts and to agilely respond to its client needs, causing the Company to suffer client dissatisfaction across its client base; and (f) as a result of (a)-(e) above, Syneos was exposed to a material undisclosed risk that the Company would lose customers, be unable to grow its client base or win significant contract renewals, and cede market share to its rivals.
WHAT'S NEXT? If you suffered a loss in Syneos stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/syneos-lawsuit-submission-form?prid=48848&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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