March 6, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Envestnet Inc (NYSE:ENV) shares over potential securities laws violations by Envestnet Inc and certain of its directors and officers in connection certain financial statements was announced.

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

Chicago, IL based Envestnet, Inc. is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers.


Envestnet Inc reported that its annual Total Revenue rose from $348.75 million in 2014 to $420.92 million in 2015 and that its Net Income declined from $14.17 million in 2014 to $4.44 million in 2015.

Shares of Envestnet Inc (NYSE:ENV0 grew from $21.01 per share in February 2016 to as high as $40.62 per share in September 2016.

On March 2, 2017, Envestnet Inc disclosed the need to delay its 10-K report, after identifying control deficiencies that represent material weaknesses in its control over financial reporting, Envestnet Inc also disclosed it is unable to complete a timely review of its liability for sales taxes.

Shares of Envestnet Inc (NYSE:ENV) declined from $40.00 per share on March 1, 2017 to as low as $36.25 per share on March 2, 2017.

On March 6, 2017, NYSE:ENV shares closed at $36.60 per share