BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces an investigation on behalf of investors of Inovalon Holdings, Inc. (“Inovalon” or the “Company”) (NASDAQ: INOV) investors concerning the Company and its officers’ potential violation of federal securities laws.
On December 12, 2016 Inovalon disclosed that it had failed to close a major transaction worth over $40 million, and as a result Inovalon had revised its full year 2016 guidance to $426 million in revenue down from $490 million at the high end. Following this news Piper Jaffray analyst expressed concern that “lack of adequate disclosure” is a core problem for Inovalon.
On this news, shares of Inovalon fell over 36% during intraday trading on December 13, 2016.
If you purchased Inovalon 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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