NEW YORK—The United States District Court for the Southern District of New York on Wednesday appointed DiCello Levitt Lead Counsel in the national securities class action against Syneos Health, Inc. and its former executives.
The lawsuit alleges that Syneos Health Inc. made misleading statements about the collapse of its new business and nearly $3 billion in uncollectable receivables and, as a result, defrauded purchasers of Syneos common stock. The biopharmaceutical solutions provider allegedly failed to properly disclose the continuing devaluation of its stock between September 2020 and November 2022.
“This is a clear case of how thousands of shareholders, including public and private workers, were defrauded due to the defendants’ massive failure to disclose Syneos’ financial difficulties to the market, which subsequently led to the substantial decline of its stock price. Moreover, Syneos shareholders were completely blindsided by the defendants’ fraudulent behavior and suffered severe financial losses. This was a great win for our new Securities Practice Group under the leadership of Patrick Daniels and the team, and we look forward to successfully prosecuting these claims on behalf of our clients and the other class members,” said Founding Partner Adam Levitt.
The case is United Association of Plumbers and Pipefitters, et al. v. Syneos Health, Inc., et al., (1:23-cv-06548-AS)
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At DiCello Levitt, we’re dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases—whether by trial, settlement, or otherwise—for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations—and our capital—on the line for our clients.
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Christine Schiffner: (703) 862-5202 or cschiffner@dicellolevitt.com