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TriNet Group Inc (NYSE: TNET) Investor Securities Class Action Lawsuit 08/07/2015

  • If you purchased shares of TriNet Group Inc (NYSE: TNET), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Security
NYSE: TNET

Case Name
TriNet Group Shareholder Class Action Lawsuit 08/07/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

January 17, 2018 - The lead plaintiff filed a notice of appeal.
December 18, 2017 - The court granted defendants' motion to dismiss without leave to amend.

April 17, 2017 - Defendants filed a motion to dismiss.

March 4, 2017 - The lead plaintiff filed another amended complaint.

January 17, 2017 - The court granted the defendants' motion to dismiss with leave to amend in part and without leave to amend in part.

February 2, 2016 - The lead plaintiff filed an amended complaint.

December 3, 2015 - Lead plaintiff and lead counsel were appointed.

October 6, 2015 - Lead plaintiff motion was filed.

August 7, 2015 - An investor in shares of TriNet Group Inc (NYSE: TNET) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by TriNet Group Inc in connection with certain allegedly false and misleading statements made between May 5, 2014 and August 3, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of TriNet Group Inc (NYSE: TNET) common shares between May 5, 2014 and August 3, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 5, 2014 and August 3, 2015 defendants' statements were each allegedly false and misleading, because defendants knew or deliberately disregarded and failed to disclose the following facts TriNet Group Inc’s processes and methodologies for analyzing and accruing claims failed to properly account for historical claims trends, that TriNet Group Inc’s forecasting process failed to properly incorporate relevant historical and current claims trends, that TriNet Group Inc was experiencing growing claims trends in medical and workers compensation that negatively affected the Company's current and future business prospects, and thatas a result of these allegedly misrepresentations and omissions, TriNet Group Inc’s stock traded at allegedly artificially inflated prices between May 5, 2014 and August 3, 2015, reaching a high of $37.88 per share on March 3, 2015.

TriNet Group Inc reported that its annual Total Revenue rose from over $1.64 billion in 2013 to over $2.19 billion in 2014 and that its respective Net Income increased from $13.15 million to $15.50 million.

Shares of TriNet Group Inc (NYSE: TNET) reached as high as $37.27 per share in April 2015.

On August 3, 2015, TriNet Group Inc announced its second quarter fiscal 2015 results. TriNet Group Inc reported that its second quarter Revenue rose from $525 million in 2014 to $640 in 2015 while its second quarter Net Income of $6.22 million in 2014 declined to a second quarter Net Loss of $1.3 million.