An investigation on behalf of investors in TriNet Group Inc (NYSE:TNET) shares over potential wrongdoing at TriNet Group was announced and NYSE:TNET stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/30/2016 -- An investigation on behalf of investors in shares of TriNet Group Inc was announced concerning possible breaches of fiduciary duties by certain TriNet Group directors .
Shares of TriNet Group Inc (NYSE:TNET) declined from $37.27 per share in April 2105 top as low as $12.28 in March 2016.
Investors who purchased shares of TriNet Group Inc (NYSE:TNET) and currently hold any of those NYSE:TNET shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain TriNet Group directors breached their fiduciary duties and caused damage to the company and its shareholders.
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 June 29, 2016, at $20.15 per share.
Those who purchased shares of TriNet Group Inc have certain options and should contact the Shareholders Foundation.
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