Bragar Eagel & Squire, P.C. Is Investigating PAREXEL International Corp. (PRXL) on Behalf of Stockholders & Encourages Invest...
November 14 2016 - 5:30PM
Business Wire
Bragar Eagel & Squire, P.C. is investigating potential
claims against PAREXEL International Corporation (NASDAQ:PRXL)
concerning possible violations of the federal securities laws.
On August 30, 2016, post-market, PAREXEL announced that the
Company was postponing the filing of its 2016 Annual Report on Form
10-K after receiving a report concerning an “incident of
misappropriation of corporate funds by an employee in one of the
Company’s international operations.” Following this news, PAREXEL
shares declined $3.08 per share on August 31, 2016.
Then, on November 11, 2016, the Company announced it would not
timely file its quarterly report for the fiscal first quarter of
2017 due to potential errors in the Company’s revenue recognition.
PAREXEL explained that such errors will impact revenue and earnings
for the fiscal first quarter of 2017. PAREXEL anticipates
correction of errors to have an adverse impact on revenue of
approximately $6.7 million and on diluted earnings per share of
approximately $0.08 for the quarter ended September 30, 2016.
Following this news, PAREXEL shares declined $4.75 per share on
November 11, 2016.
If you purchased PAREXEL securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact J. Brandon Walker, Esq. by
email at investigations@bespc.com, or telephone at (212) 355-4648,
or by filling out this contact form. There is no cost or obligation
to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm
concentrating in commercial and securities litigation. For
additional information, please go to www.bespc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161114006603/en/
Bragar Eagel & Squire, P.C.J. Brandon Walker, Esq.,
212-355-4648investigations@bespc.com
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