An investigation on behalf of investors of Blucora, Inc. (NASDAQ: BCOR) shares over potential securities laws violations by Blucora, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Blucora, Inc. (NASDAQ: BCOR) concerning whether a series of statements by Blucora, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Irving, TX based Blucora, Inc. provides technology-enabled financial solutions to consumers, small business owners, and tax professionals in the United States. Blucora, Inc. reported that its annual Total Revenue rose from $509.55 million in 2017 to $560.45 million in 2018 and that its Net Income increased from $27.03 million in 2017 to $50.63 million in 2018.

On January 16, 2020, Blucora announced that its President and Chief Executive Officer (CEO), John Clendening, has departed his roles as executive and member of the Board of Directors and that Blucora anticipates announcing a new CEO by the end of January 2020. Blucora stated that Clendenings departure results from differences in views on the scope of Mr. Clendenings authority as CEO.

Shares of Blucora, Inc. (NASDAQ: BCOR) declined to as low as $22.36 per share on January 21, 2020.