NEW YORK, Nov. 11, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of PAREXEL
International Corporation ("PAREXEL" or the "Company") (NASDAQ:
PRXL) (ISIN: US6994621075). Investors are advised to contact
Robert S. Willoughby at
rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether PAREXEL and certain of its
officers and/or directors have violated the federal securities
laws.
[Click here to join a class action]
On August 30, 2016, post-market,
PAREXEL disclosed that the Company was delaying the filing of its
2016 Annual Report on Form 10-K after receiving a report "of an
incident of misappropriation of corporate funds by an employee in
one of the Company's international operations." On this news,
PAREXEL stock fell $3.08, or 4.33%,
to close at $68.03 on August 31, 2016. On November 11, 2016, the Company filed for a
non-timely filing of its quarterly report on SEC Form 10-Q for Q3
2016, citing the identification of potential errors related
to timing of revenue recognition with regard to its clinical
research services business segment. PAREXEL stated that it
anticipates correction of errors to have an adverse impact on
revenue of approximately $6.7 million
and on EPS of approximately $0.08 for
Q3 2016.
On this news, PAREXEL stock has fallen as much as $5.77, or 9.54%, during intraday trading on
November 11, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP