MAXIMUS Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | MAXIMUS Inc |
Stock Symbol : | NYSE: MMS |
Class Period Start: | 10/30/2014 |
Class Period End: | 02/03/2016 |
Lead Plaintiff motion: | 10/06/2017 |
Date Filed: | 08/04/2017 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Eastern District of Virginia |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the October 6, 2017 lead plaintiff deadline in a class action lawsuit filed against MAXIMUS Inc (NYSE: MMS) (“MAXIMUS” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of Virginia and investors, who purchased MAXIMUS Inc securities between October 30, 2014 through February 3, 2016, have until October 6, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased MAXIMUS Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that in obtaining the Health Assessment Advisory Service (“HAAS”) contract, MAXIMUS set an unattainable target number of healthcare professionals to recruit and an unattainable target number of assessments; throughout the HAAS contract, MAXIMUS was struggling to recruit, train and ramp-up new health care staff to perform the assessments; the inability to meet its target number of healthcare recruits and target number of assessments, meant MAXIMUS would not earn the performance-based incentive fees from the HAAS contract; and consequently, defendants’ statements about MAXIMUS, its financial condition, and the outlook for its business, including statements about the HAAS contract and the amount of revenue MAXIMUS expected the contract to contribute, lacked a reasonable basis when made. On February 4, 2016, Maximus issued a press release announcing its earnings for the first quarter of 2016, again missing expectations and confirming the Company's inability to meet HAAS contract assessment targets. Maximus reported that its Health Services Segment's operating margin fell from 15.5% in the prior year to 9.2% for the first quarter of 2016. The reduced earnings were based in part on weak performance of the HAAS contract, which "tempered operating margin." Following this news, NYSE: MMS dropped $5.53 per share, thereby damaging investors. If you were negatively impacted by your investment in MAXIMUS Inc securities between October 30, 2014 through February 3, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |