March 11, 2019 - The court preliminarily approved the settlement.

March 6, 2019 - A stipulation of settlement was filed by the parties.

May 23, 2017 - The court granted in part and denied in part defendants' motion to dismiss.

March 3, 2017 - A motion to dismiss the consolidated complaint was filed. December 22, 2016 - A consolidated complaint was filed.

June 24, 2016 - An investor in shares of Inovalon Holdings Inc (NASDAQ: INOV) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Inovalon Holdings Inc in connection with certain allegedly false and misleading statements made in connection with Inovalon Holdings Inc's February 12, 2015 initial public offering ( IPO ).

According to the complaint the plaintiff alleges that the defendants violated Federal Securities Laws. The lawsuit was filed on behalf of purchasers of Inovalon Holdings Inc (NASDAQ: INOV) Class A common stock pursuant or traceable to the Registration Statement and Prospectus.

Bowie, MD based Inovalon Holdings Inc is a technology company that combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Inovalon Holdings Inc went public in early February 2015 and shares reached as high as $31.75 per share in late February 2015.

The plaintiff claims that the Registration Statement issued in connection with the IPO contained allegedly untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not misleading.

More specifically, the plaintiff alleges that the defendants failed to disclose that Inovalon Holdings Inc 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 Holdings Inc doing substantial business within their borders.

The plaintiff says that those corporate tax rate increases, which would take effect January 1, 2015, more than a month prior to Inovalon Holdings Inc's IPO, significantly increased the Company's effective tax rate and thus lowered its 2015 earning potential and that these material facts should have been disclose in the Registration Statement, but were not, and the omission rendered false and misleading the Registration Statement's express claim that Inovalon Holdings Inc's year-over-year effective income tax rate . . . remained relatively stable at 39%.

In late March 2015 Inovalon Holdings Inc reported its fourth quarter and full year 2014 results. Inovalon Holdings Inc reported that its annual Total Revenue rose from $295.80 million in 2013 to $361.54 million in 2014 and that its Net Income increased from $32.72 million in 2013 to $65.35 million in 2014.

Since then shares of Inovalon Holdings Inc (NASDAQ: INOV) declined to as low as $15.12 per share on January 21, 2016.