A lawsuit was filed on behalf of investors in TriNet Group Inc (NYSE:TNET) shares over alleged securities laws violations and NYSE:TNET investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/01/2015 -- An investor in NYSE:TNET shares filed a lawsuit in California over alleged Securities Laws violations of by TriNet Group Inc in connection with certain allegedly false and misleading statements.
Shares of TriNet Group Inc (NYSE:TNET) declined from $37.27 per share in April 2015 to as low as $16.09 per share on August 26, 2015.
Investors who purchased shares of TriNet Group Inc (NYSE:TNET) have certain options and for certain investors are short and strict deadlines running. Deadline: October 6, 2015. NYSE:TNET investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
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 August 28, 2015, NYSE:TNET shares closed at $16.95 per share.
Those who purchased shares of TriNet Group Inc (NYSE:TNET) 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