March 20, 2020 - The case was dismissed for failure to serve.

March 1, 2019 - An investor in shares of Syneos Health, Inc. (NASDAQ: SYNH) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Syneos Health, Inc. in connection with certain allegedly false and misleading statements made between May 10, 2017 and February 27, 2019.

Morrisville, NC based Syneos Health, Inc. operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. Syneos Health, Inc. reported that its annual Total Revenue rose from over $1.03 billion in 2016 to over $1.85 billion in 2017 and that its Net Income of $112.63 million in 2016 declined to a Net Loss of $138.46 million in 2017.

On February 27, 2019, Syneos Health, Inc disclosed that “[o]n February 21, 2019, the Securities and Exchange Commission (“SEC”) notified the Company that it has commenced an investigation into the Company’s revenue accounting policies, internal controls and related matters, and requested that the Company retain certain documents for the periods beginning with January 1, 2017. As an additional measure prior to the Company filing the Form 10-K, the Audit Committee of the Company’s Board of Directors is conducting an independent review of the Company’s revenue accounting policies, internal controls and related matters with the assistance of outside counsel and accounting advisors.” Shares of Syneos Health, Inc (NASDAQ: SYNH) declined from $56.34 per share on February 25, 2019 to as low as $36.72 per share on February 28, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Syneos Health, Inc. (NASDAQ: SYNH) common shares between May 10, 2017 and February 27, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between May 10, 2017 and February 27, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Syneos Health’s internal control over financial reporting was inadequate, that concerns regarding Syneos Health’s internal control over financial reporting would result in heightened regulatory scrutiny and an SEC investigation into the company’s revenue accounting policies, internal controls and related matters, and that as a result, defendants’ statements about Syneos Health’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.