Company Website:
http://www.ksfcounsel.com
NEW ORLEANS -- (Business Wire)
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until August 23, 2016 to file lead plaintiff applications in
a securities class action lawsuit against Inovalon Holdings, Inc.
(NasdaqGS: INOV), if they purchased the Company’s Class A common stock
in or pursuant to Inovalon’s February 12, 2015 initial public offering
(“IPO”). This action is pending in the United States District Court for
the Southern District of New York.
What You May Do
If you purchased shares of Inovalon and would like to discuss your legal
rights and how this case might affect you and your right to recover for
your economic loss, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by August 23, 2016.
About the Lawsuit
Inovalon is charged with failing to disclose material information in
connection with the IPO, violating federal securities laws.
The alleged false statements and omissions include, but are not limited
to, that Inovalon derives substantial revenues from sales in the City of
New York and the State of New York, both of which were reforming their
corporate tax schemes in order to capture more taxes from out-of-state
businesses like Inovalon doing substantial business within their
borders. Those corporate tax rate increases, which would take effect
January 1, 2015, more than a month prior to Inovalon's IPO,
significantly increased the Company's effective tax rate and thus
lowered its 2015 earning potential.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160722005879/en/
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, 1-877-515-1850
Managing
Partner
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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