LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of PAREXEL International Corporation (“PAREXEL” or the “Company”) (NASDAQ: PRXL) investors concerning the Company and its officers’ possible violations of federal securities laws.
On August 30, 2016, post-market, PAREXEL announced that the Company was postponing the filing of its 2016 Annual Report on Form 10-K after receiving a report concerning an “incident of misappropriation of corporate funds by an employee in one of the Company's international operations." On this news, PAREXEL stock fell almost 5% on August 31, 2016.
Then on November 11, 2016, the Company announced it would not timely file its quarterly report for the third quarter 2016 due to potential errors in the Company’s revenue recognition. Parexel, further explained that such errors will impact revenue and earnings for the third quarter 2016. On this news the Company’s shares fell $4.75 per share, or nearly 8%, to close on November 11, 2016 at $55.73 per share.
If you purchased PAREXEL securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.