BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the October 2, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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.
Investors suffering losses on their Advisory Board investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
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.
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.
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 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 if you meet certain legal requirements. 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. 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 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 http://www.howardsmithlaw.com.
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