NEW YORK, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Syneos Health, Inc. ("Syneos" or the "Company") ( SYNH) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Syneos investors who were adversely affected by alleged securities fraud between September 9, 2020 and November 3, 2022. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/syneos-lawsuit-submission-form?prid=48933&wire=3
SYNH investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
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 during the relevant time frame, you have until September 25, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our 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.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
