The Advisory Board Company (ABCO) Loss Submission Form
Levi & Korsinsky announces the commencement of a class action lawsuit in the United States District Court for the Southern District of New York on behalf of shareholders of The Advisory Board Company (NASDAQ : ABCO) who purchased shares between January 21, 2015 and February 23, 2016.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) there were severe integration problems associated with Advisory Board's acquisition of Royall & Company; and (2) as a consequence, defendants had no basis to increase the revenue guidance for Royall during the Class Period. On January 9, 2015, Advisory Board completed its acquisition of Royall & Company. Then on February 23, 2016, Advisory Board announced a net loss of $101.8 million for the quarter ended December 31, 2015, primarily attributable to an impairment charge of $95.7 million (and later increased to $99.1 million) to Royall’s goodwill. Following this news, shares of Advisory Board fell 27% to close at $26.50 per share on February 24, 2016.
If you suffered a loss in The Advisory Board Company you have until October 2, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.To receive more information, please fill out the form.