Goldberg Law PC (www.Goldberglawpc.com) announces that a class action lawsuit has been filed against Inovalon Holdings, Inc. ("Inovalon" or the "Company") (Nasdaq: INOV) concerning possible violations of federal securities laws in connection with Inovalon’s initial public offering (“IPO”). Investors who purchased or otherwise acquired shares on or about the February 12, 2015 IPO are encouraged to contact the firm in advance of the August 23, 2016 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent 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 and 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.
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Michael Goldberg, Esq., 800-977-7401
Brian Schall, Esq., 800-977-7401