INCR investors may receive additional information about the case by clicking the link "Submit Your Information" above.
INCR provides clinical development services to pharmaceutical, biotechnology, and medical device companies.
On August 1, 2017, INCR announced that it completed a merger (the “Merger”) with inVentiv Health, Inc. (“inVentiv”). At that time, INCR represented to investors that the Merger was the beginning of an “industry-changing new company, purpose-built to achieve the singular goal of accelerating biopharmaceutical performance.”
The shareholder class action complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Merger was not providing the benefit that Defendants stated it would; (2) that inVentiv was underperforming; (3) that, as a result, the Company’s 2017 financial performance would be negatively impacted; and (4) that, as a result of the foregoing, Defendants’ statements about INCR’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 9, 2017, INCR reported a quarterly net loss of $88.9 million (as compared to income of $39.4 million for the 2016 comparable quarter). The Company disclosed that its quarterly operating results – for the first quarter following the Merger – had been impacted by: (i) Merger-related transaction expenses of $84.3 million, (ii) an impairment charge of $30.0 million, and (iii) an increase in amortization expense of $41.9 million due to the acquisition of intangible assets as a result of the Merger.
Following this news, shares of the Company’s stock declined $16.35 per share, or over 28%, to close on November 9, 2017 at $41.15 per share, on heavy trading volume. Over the following three trading days, the Company’s shares declined an additional $6.80 per share.
If you are a member of the class described above, you may no later than January 30, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com.
Kessler Topaz Meltzer & Check, LLP
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