NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of all persons or entities who purchased or otherwise acquired MAXIMUS, Inc. (NYSE : MMS) securities between October 30, 2014 and February 3, 2016 (the “Class Period”). Investors have until October 6, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants failed to disclose that: (i) in obtaining the Health Assessment Advisory Service (“HAAS”) contract, MAXIMUS set an unattainable target number of healthcare professionals to recruit and an unattainable target number of assessments; (ii) throughout the HAAS contract, MAXIMUS was struggling to recruit, train and ramp-up new health care staff to perform the assessments; (iii) the inability to meet its target number of healthcare recruits and target number of assessments, meant MAXIMUS would not earn the performance-based incentive fees from the HAAS contract; and (iv) consequently, Defendants’ statements about the Company, its financial condition, and the outlook for its business, including statements about the HAAS contract and the amount of revenue the Company expected the contract to contribute, lacked a reasonable basis when made.
If you purchased or otherwise acquired MAXIMUS securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the MAXIMUS, Inc. lawsuit, please go to http://www.bespc.com/mms. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.