Khang & Khang LLP (the “Firm”) announces that a class action lawsuit has been filed against Inovalon Holdings, Inc. (“Inovalon” or the “Company”) (INOV). Investors who purchased or otherwise acquired shares on or about the February 12, 2015 initial public offering (“IPO”) date, are encouraged to contact the Firm prior to the August 23, 2016, lead plaintiff motion deadline.
If you purchased shares of Inovalon during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at email@example.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, the Company’s Registration Statement issued in connection with the IPO failed to disclose material facts and contained misleading and/or false statements. Inovalon did not disclose that the Company receives substantial revenues from sales in New York City and New York State, both of which were pushing to obtain more taxes from out-of-state businesses like Inovalon. The corporate tax rate increases were implemented on January 1, 2015. This increase significantly raised Inovalon’s effective tax rate, and lowered the Company’s 2015 earning potential. When this information was revealed to the market, the Company’s common stock declined in value significantly.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
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Joon M. Khang, Esq.