San Diego, CA -- (SBWIRE) -- 01/29/2014 -- An investigation on behalf of investors of Stericycle Inc (NASDAQ:SRCL) shares over potential securities laws violations by Stericycle Inc and certain of its directors and officers in connection certain financial statements was announced .
Investors who purchased shares of Stericycle Inc (NASDAQ:SRCL) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Stericycle Inc (NASDAQ:SRCL) concerning whether a series of statements by Stericycle Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
In 2008 a lawsuit was filed under seal by a former employee of Stericycle Inc. The lawsuit alleges that Stericycle Inc allegedly has systematically been overbilling the government by levying a standard 18% rate increase every nine months, as well as other unauthorized fees and surcharges. In early 2013 the lawsuit was unsealed and fourteen states have joined the action.
In March 2013, a veterinary clinic filed a lawsuit on behalf of Stericycle’s private customers, alleging breach of contract and unjust enrichment claims, as well as violations of state deceptive business practice statutes.
Stericycle Inc reported that its Total Revenue rose from over $1.17 billion for the 12 months period that ended on December 31, 2009, to over $1.91 billion for the 12 months period that ended on December 31, 2012 and that its respective Net Income increased from $175.69 million to $268.00 million.
Shares of Stericycle Inc (NASDAQ:SRCL) grew from $47.46 per share in late 2009 to as high as $120.97 per share in October 2013.
On January 28, 2014, NASDAQ:SRCL shares closed at $115.18 per share.
Those who purchased shares of certain Stericycle Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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