MERION, Pa., March 31, 2016
/PRNewswire/ -- The Law Offices of Marc S. Henzel (www.henzellaw.com), a firm
focusing on shareholder litigation, gives notice to shareholders of
investigation into the following securities for violations of the
Federal Securities Laws:
comScore, Inc. (Nasdaq: SCOR) 5/5/15 thru 3/7/16
On March 7, 2016, the Company
disclosed that its Audit Committee had advised the Company's Board
of Directors that it did not expect to finalize its review of
potential accounting issues before March 15,
2016. The Company also disclosed that, as a result, "the
Company is not in a position to file its Form 10-K until after the
Audit Committee completes its review and the Company's independent
public accountants assess the conclusions of the Audit Committee in
connection with their audit of the Company's annual financial
statements included in the Form 10-K." The Company also stated that
it did not expect to make further comment regarding the Audit
Committee's review until its conclusion. Finally, in a press
release issued the same day, the Company announced that, "out of an
abundance of caution," it was suspending the Company's previously
announced share repurchase program.
On this news, the price of comScore stock fell $13.67 per share, or 33.5%, to close at
$27.04 per share on March 7, 2016, on unusually heavy trading
volume.
Horizon Pharma plc (Nasdaq: HZNP) 3/13/14 thru 2/26/16
On February 29, 2016, Horizon
disclosed in its 2015 annual report that the Company had received a
subpoena in November 2015 from the
Office of the U.S. Attorney for the Southern District of
New York. The annual report stated
that "[d]espite our compliance efforts, to the extent the
HorizonCares [previously the PME] program is found to be
inconsistent with applicable laws or the pharmacies that
participate in our patient access programs do not comply with
applicable laws, we may be required to restructure or discontinue
such programs, terminate our relationship with certain pharmacies,
or be subject to other significant penalties. In November 2015, we received a subpoena from the
U.S. Attorney's Office . . . requesting documents and information
related to our patient assistance programs and other aspects of our
marketing and commercialization activities." The annual report
continued: "If we are unable to successfully implement our
commercial plans and facilitate adoption by patients and physicians
of any approved medicines through our sales, marketing and
commercialization efforts then we will not be able to generate
sustainable revenues form medicine sales which will have a material
adverse effect on our business and prospects." On this news, the
price of Horizon stock fell $2.63 per
share, or 13.3%, to close at $17.16
per share on February 29, 2016
Match Group, Inc. (Nasdaq: MTCH) IPO of November 20, 2015
On November 20, 2015, in
connection with its IPO, Match Group filed with the SEC a final
prospectus (the "Prospectus") on Form 424B4 dated November 18, 2015. The Prospectus was part of a
registration statement, filed on Form S-1/A with the SEC on
November 17, 2015, and declared
effective by the SEC on November 17,
2015 (the "Registration Statement").
On February 2, 2016, Match Group
revealed to investors a decline in total user growth and per-user
revenue, and the cannibalization of users and revenues across
competing platforms. They also revealed that the Company's net
income has consistently fallen and that there had been a decline in
revenue in their Princeton Review segment.
Shares of Match Group fell from a close of $12.79 prior to the announcement, to a recent
close of just $9.76 on February 4, 2016.
Mentor Graphics Corporation (Nasdaq: MENT) 8/21/14 thru 11/19/15
On November 19, 2015, Mentor
Graphics announced disappointing financial results for the third
quarter of fiscal 2016 and substantially reduced its fourth quarter
fiscal 2016 financial outlook, lowering its fourth quarter revenue
forecast by $104 million. In
addition, the Company stated that bookings for the three months
ended October 31, 2015 had decreased
by approximately 20% compared to the three months ended
October 31, 2014, primarily due to a
decrease in term license contract renewals. On this news, the price
of Mentor Graphics stock fell 36%, closing at $17.85 per share, down from the previous day's
close of $27.78 per share, on high
trading volume.
LPL Financial Holdings Inc. (Nasdaq: LPLA)
12/8/15 thru 2/11/16
On December 10, 2015, LPL
announced the early completion of its accelerated share repurchase
program. TPG sold 4.3 million shares of LPL common stock at
$43.27 per share for approximately
$187 million in proceeds.
On February 11, 2016, LPL
announced its fourth quarter and full year 2015 financial results,
including adjusted earnings per share of $0.37 per share, well below consensus analyst
estimates of $0.51 per share. The
Company also revealed disappointing revenues, primarily as a result
of dramatically lower commission revenues and revenues from
alternative investments, as well as higher-than-expected expenses
for the quarter. As a result of this news, the price of LPL common
stock dropped $8.76 per share to
close at $16.50 per share on
February 12, 2016, a one-day decline
of nearly 35% and a decline of 63% from the stock's Class Period
high.
Apollo Education Group, Inc. (Nasdaq: APOL)
6/26/13 thru 10/21/15
On January 8, 2015, Apollo
announced that its conversion to the new online platform was more
challenging than had been anticipated and had resulted in a greater
than expected impact on retention. Due to other more positive
statements made that day concerning the strong ongoing enrollment
and profitability trends being experienced, the price of Apollo
stock declined only moderately. However, when on March 25, 2015 Apollo disclosed that it had
actually experienced a significant disruption with respect to the
new online classroom platform that was not only adversely impacting
retention but had decreased enrollment by 13% in the quarter,
forcing Apollo to cut its annual revenue forecast, the stock price
declined significantly.
Then, on June 30, 2015, the Center
for Investigative Reporting ("CIR") published an exposé entitled
"University of Phoenix sidesteps Obama
order on recruiting veterans." In its exposé, CIR detailed how the
University of Phoenix was violating
President Obama's Executive Order, as well as the contractual
agreements the University of Phoenix
had entered into with the DoD, through a variety of improperly
aggressive recruiting tactics. That same day U.S. Senator
Richard J. Durbin sent a letter to
Secretary of Defense Ashton Carter
bringing the matters raised in the CIR exposé to his attention and
calling for the military to investigate and put an end to the
illicit recruiting tactics.
When the DoD formally placed the University
of Phoenix on probation on October 7,
2015, and banned it from recruiting on military bases and
prevented troops from using federal funds for its classes, the
price of Apollo common stock plunged further. And when Apollo
disclosed on October 22, 2015 that
its fourth quarter and fiscal year 2015 results had been negatively
impacted and that its future results would continue to be
negatively impacted by actions the Company had been forced to take
to bring its operations into compliance with the law, the price of
the common stock fell further. In the end, the shares declined
approximately 80% from their Class Period high – or nearly
$29 per share – erasing more than
$3 billion in market
capitalization.
magicJack Vocaltec Ltd. (Nasdaq: CALL) 11/12/13 thru
3/12/14
On March 12, 2014, after the
market closed, the Company announced its financial results for the
fourth quarter and full year 2013, reporting, among other things,
adjusted EBITDA that was higher than the previously stated expected
range. As a result of this news, defendants' earlier
misrepresentations and fraudulent conduct became apparent, and the
price of magicJack shares dramatically increased, reaching close to
$25 per share, as the artificial
depression was removed from the share price.
NantKwest, Inc. (Nasdaq: NK) 9/10/15 thru 3/10/16
The firm is investigating potential violations of the federal
securities laws by NantKwest, Inc. (Nasdaq: NK).
On March 11, 2016, NantKwest
announced that the Company's interim financial statements for the
quarters ended June 30, 2015 and
September 30, 2015 should no longer
be relied upon due, in part, to the combined effect of financial
statement errors primarily attributable to certain stock-based
awards to defendant Soon-Shiong and build-to-suit lease accounting
related to one of its research and development and GMP
facilities.
On this news, NantKwest stock fell $0.28, or 3.31%, to close at $8.17 on March 11,
2016.
If you would like to learn more about the investigation of these
companies, would like to learn more about any potential claims or
you wish to discuss these matters and have any questions concerning
this announcement or your rights, please contact Marc S. Henzel (610) 660-8000, email at
Mhenzel@Henzellaw.com, or to sign up online, visit the firm's
website at www.henzellaw.com.
The Law Offices of Marc S. Henzel
is a national shareholder litigation firm representing shareholders
& investors in various areas of securities laws including but
not limited to: class actions, derivatives, transactional
(buyouts/takeovers/mergers) and FINRA & NYSE Arbitrations.
Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com
Phone 610-660-8000
Website: www.henzellaw.com
LAW OFFICES OF MARC S. HENZEL
MERION STATION, PA 19066
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Henzel