NEW
YORK, July 28, 2023 /PRNewswire/
-- Jakubowitz Law announces that a securities
fraud class action lawsuit has commenced on behalf of
shareholders of Syneos Health, Inc. (NASDAQ: SYNH).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/syneos-class-action-loss-submission-form/?id=42767&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Syneos between September 9,
2020 and November 3, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
September 25, 2023 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Syneos Health, Inc. 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law
