An investigation on behalf of investors in Inovalon Holdings Inc (NASDAQ:INOV) shares over potential wrongdoing at Inovalon Holdings Inc was announced and NASDAQ:INOV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/03/2017 -- Certain directors of Inovalon Holdings Inc are under investigation over potential wrongdoing. The investigation was announced for long-term investors in NASDAQ:INOV shares over potential breaches of fiduciary duties by certain directors at Inovalon Holdings Inc.
Investors who purchased shares of Inovalon Holdings Inc (NASDAQ:INOV) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Inovalon Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.
In late March 2015 Inovalon Holdings Inc reported its fourth quarter and full year 2014 results. Inovalon Holdings Inc reported that its annual Total Revenue rose from $295.80 million in 2013 to $361.54 million in 2014 and that its Net Income increased from $32.72 million in 2013 to $65.35 million in 2014.
On December 12, 2016, Inovalon Holdings Inc announced that it lowered its revenue and earnings guidance for full year 2016. Shares of Inovalon Holdings Inc (NASDAQ:INOV) declined to as low as $8.60 per share on December 14, 2016.
On December 30, 2016, NASDAQ:INOV shares closed at $10.30 per share.
Those who purchased shares of Inovalon Holdings Inc 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