LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 2, 2017 deadline in the class action lawsuit filed on behalf of investors that purchased The Advisory Board Company (“Advisory Board” or the “Company”) (NASDAQ: ABCO) securities between January 21, 2015 and February 23, 2016, inclusive (the “Class Period”). Advisory Board investors have until October 2, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Advisory Board page on our website at www.glancylaw.com/case/advisory-board-company.
On January 9, 2015, Advisory Board completed its acquisition of Royall & Company (“Royall”). Then on February 23, 2016, Advisory Board announced a net loss of $101.8 million for the quarter ended December 31, 2015, primarily attributable to an impairment charge of $95.7 million (and later increased to $99.1 million) to Royall’s goodwill.
On this news, the Company’s stock price fell approximately 27% or $9.79 per share to close at $26.50 on February 24, 2016.
The Complaint filed in this class action alleges that during the Class Period, Advisory Board made materially false and/or misleading statements, and/or failed to disclose that there were critical integration problems associated with the Company’s acquisition of Royall & Company and, as a consequence of these integration problems, the Company had no basis to increase the revenue guidance for Royall during the Class Period.
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If you purchased shares of Advisory Board during the Class Period you may move the Court no later than October 2, 2017 to ask the Court to appoint you as lead plaintiff in this class action lawsuit. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action lawsuit. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
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