An investigation for investors in Envestnet Inc (NYSE:ENV) shares over potential securities laws violations by Envestnet Inc was announced and NYSE:ENV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/07/2017 -- Envestnet Inc is under investigation over potential securities laws violations. The investigation was announced for investors in NYSE:ENV shares in connection certain financial statements made by Envestnet Inc.
Investors who purchased shares of Envestnet Inc (NYSE:ENV), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by Envestnet Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Chicago, IL based Envestnet, Inc. is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. Envestnet Inc reported that its annual Total Revenue rose from $348.75 million in 2014 to $420.92 million in 2015 and that its Net Income declined from $14.17 million in 2014 to $4.44 million in 2015. Shares of Envestnet Inc (NYSE:ENV) grew from $21.01 per share in February 2016 to as high as $40.62 per share in September 2016.
On March 2, 2017, Envestnet Inc disclosed the need to delay its 10-K report, after identifying "control deficiencies" that represent "material weaknesses" in its control over financial reporting, Envestnet Inc also disclosed it is unable to complete a timely review of its liability for sales taxes. Shares of Envestnet Inc (NYSE:ENV) declined from $40.00 per share on March 1, 2017 to as low as $36.25 per share on March 2, 2017.
On March 6, 2017, NYSE:ENV shares closed at $36.60 per share.
Those who purchased shares of Envestnet Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego