NEW YORK,
Aug. 11,
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=43317&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
