SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Syneos Health, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of September 25, 2023 – (NASDAQ: SYNH)
News provided byThe Gross Law Firm
Sep 18, 2023, 12:28 PM ET
NEW YORK, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Syneos Health, Inc.
Shareholders who purchased shares of SYNH during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: September 9, 2020 to November 3, 2022
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose 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.
DEADLINE: September 25, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/syneos-loss-submission-form/?id=48292&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of SYNH during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the life cycle of the case. The deadline to seek to be a lead plaintiff is September 25, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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