An investigation on behalf of current long term investors in TriNet Group Inc (NYSE:TNET) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 01/20/2016 -- An investigation for shareholders in TriNet Group Inc (NYSE:TNET) concerning potential breaches of fiduciary duties by certain directors of TriNet Group Inc was announced.
Investors who are current long term investors in TriNet Group Inc (NYSE:TNET) shares, 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 for current long term investors in NYSE:TNET stocks follows a lawsuit filed recently against TriNet Group Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:TNET stocks, concerns whether certain TriNet Group officers and directors are liable in connection with the allegations made in that lawsuit. According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 5, 2014 and August 3, 2015 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 August 3, 2015, TriNet Group Inc announced its second quarter fiscal 2015 results. TriNet Group Inc reported that its second quarter Revenue rose from $525 million in 2014 to $640 in 2015 while its second quarter Net Income of $6.22 million in 2014 declined to a second quarter Net Loss of $1.3 million.
On January 15, 2016, NYSE:TNET shares closed at $15.70 per share.
Those who purchased shares of TriNet Group Inc (NYSE:TNET) have certain options and should contact the Shareholders Foundation.
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