Robbins Arroyo LLP Is Investigating the Officers and Directors of Inovalon Holdings, Inc. (INOV) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of Inovalon Holdings, Inc. (NASDAQGS: INOV) violated federal securities laws by issuing materially misleading business information to the investing public. Inovalon is a technology company that provides advanced cloud-based data analytics and data-driven intervention platforms to the healthcare industry in the United States.
Inovalon Stock Declines After Disclosing News of Poor Earnings
On February 12, 2015, Inovalon held its initial public offering (“IPO”), selling 22.2 million shares and raising approximately $600 million in capital. Then, on August 5, 2015, the company announced its second quarter financial and operating results, disclosing that its earnings had been negatively affected by a higher effective income tax rate, among other factors. On this news, Inovalon stock fell $5.87 per share, or 23.1%, to close at $19.53 per share on August 6, 2015. Since the IPO, Inovalon’s stock has fallen from a first day-trading high of $33.75 per share to close at $17.39 per share on February 2, 2016, a drop of nearly 48.5%.
Inovalon Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.
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