LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors of TriNet Group, Inc. (“TriNet” or the “Company”) (NYSE:TNET) who purchased TriNet shares between May 5, 2014 and August 3, 2015 inclusive (the “Class Period”). Investment Technology Group investors have until October 6, 2015 to file a lead plaintiff motion.
On August 3, 2015, after the market close, TriNet reported a second-quarter loss of $1.3 million, after reporting a profit in the same period a year earlier. TriNet, a human resources services outsourcing company, said it had a loss of 2 cents per share during the quarter, and earnings, adjusted for one-time gains and costs, of 14 cents per share. The results missed Wall Street analyst expectations where expectations were for earnings of 27 cents per share. On this news shares of TriNet dropped significantly during after-hours trading on August 3, 2015.
The complaint alleges that TriNet misled investors by failing to adequately disclose that (a) the Company's processes and methodologies for analyzing and accruing claims failed to properly account for historical claims trends; (b) the Company's forecasting process failed to properly incorporate relevant historical and current claims trends; and (c) the Company was experiencing growing claims trends in medical and workers compensation that negatively affected the Company's current and future business prospects.
If you purchased shares of TriNet during the Class Period, 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 Casey Sadler, 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 email@example.com, 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.
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