San Diego, CA -- (SBWire) -- 03/21/2016 --An investigation for shareholders of TriNet Group Inc (NYSE:TNET) over potential securities laws violations by TriNet Group Inc in connection certain financial statements was announced.
Investors who purchased shares of TriNet Group Inc (NYSE:TNET), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of TriNet Group Inc (NYSE:TNET) concerning whether a series of statements by TriNet Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On August 7, 2015 a lawsuit was filed against TriNet Group Inc over alleged securities laws violations. The plaintiff claimed defendants' statements were each allegedly false and misleading, because defendants knew or deliberately disregarded and failed to disclose the following facts TriNet Group Inc's processes and methodologies for analyzing and accruing claims failed to properly account for historical claims trends, that TriNet Group Inc's forecasting process failed to properly incorporate relevant historical and current claims trends, that TriNet Group was experiencing growing claims trends in medical and workers compensation that negatively affected the Company's current and future business prospects, and thatas a result of these allegedly misrepresentations and omissions, TriNet Group Inc's stock traded at allegedly artificially inflated prices between May 5, 2014 and August 3, 2015, reaching a high of $37.88 per share on March 3, 2015.
On February 29, 2016 TriNet Group Inc (NYSE:TNET) announced financial results for the fourth quarter and year ended December 31, 2015. TriNet Group Inc reported that its annual Total Revenue rose from over $2.19 billion in 2014 to over $2.65 billion in 2015 and that its Net Income rose from $15.50 million in 2014 to $31.70 million in 2015.
Then on March 1, 2016, TriNet Group Inc disclosed that it had found material weakness within aforementioned internal controls, and itt is now seeking an extension of time to file its 10-K.
Shares of TriNet Group Inc (NYSE:TNET) closed on March 17, 2016, at $12.88 per share.
Those who purchased shares of TriNet Group Inc (NYSE:TNET) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
TriNet Group Inc (NYSE:TNET) Shareholder Alert: Investigation Announced
An investigation for investors in NYSE:TNET shares over potential securities laws violations by TriNet Group Inc was announced and NYSE:TNET stockholders should contact the Shareholders Foundation.