BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of The Advisory Board Company (“Advisory Board” or the “Company”) (NASDAQ: ABCO) investors concerning the Company and its officers’ possible violations of federal securities laws.
On January 9, 2015, Advisory Board completed its acquisition of Royall & Company. However, the Company allegedly failed to disclose the underperformance of the Royall & Company acquisition. And, 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 over $95 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.
If you purchased Advisory Board 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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