STEVENSON, Md.--(BUSINESS WIRE)--
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia on behalf of purchasers of MAXIMUS, Inc. (NYSE: MMS) (“MAXIMUS” or the “Company”) securities during the period between October 30, 2014 through February 3, 2016, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until October 6, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in MAXIMUS securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that in obtaining the Health Assessment Advisory Service (“HAAS”) contract, MAXIMUS set an unattainable target number of healthcare professionals to recruit and an unattainable target number of assessments and MAXIMUS was struggling to recruit, train and ramp-up new health care staff to perform the assessments.
According to the complaint, following an August 5, 2015 announcement that the Company had start-up challenges, a November 12, 2015 announcement that the HAAS contract delivered an operating loss, and a February 4, 2016 announcement that the Company was unable to meet HAAS contract assessment targets, the value of MAXIMUS shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in MAXIMUS securities purchased on or after October 30, 2014 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
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