NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of WageWorks, Inc. (NYSE:WAGE) resulting from allegations that management may have issued materially misleading business information to the investing public.
On September 12, 2018, WageWorks announced that it was reopening an investigation concerning WageWorks’ accounting practices, financial statements reporting, and internal control over financial reporting for 2016 and 2017 that WageWorks’ Audit Committee previously concluded in May 2018. Since the conclusion of that investigation, WageWorks’ auditor, KPMG LLP, raised concerns of the Audit Committee’s awareness of information withheld from KPMG during 2016 and 2017. On this news, shares of WageWorks fell $8.15 or over 16.5% to close at $40.95 on September 13, 2018. The investigation concerns whether WageWorks’ board of directors breached its fiduciary duties to shareholders, grossly mismanaged WageWorks, and/or committed abuses of control as a result of the foregoing.
If you currently own shares of WageWorks, please visit the firm’s website at http://www.rosenlegal.com/cases-1302.html for more information. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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