Cases
Wageworks, Inc. (WAGE)
Securities Class Action
Overview
Overview
- Date:
- 3/26/2018
- Company Name:
- WageWorks, Inc.
- Stock Symbol:
- WAGE
- Class Period:
- FROM 5/5/2016 TO 3/1/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Central California
NEW YORK, March 26, 2018 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Wageworks, Inc. (NASDAQ: WAGE) securities between May 5, 2016 and March 1, 2018 (the “Class Period”). Investors have until May 8, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On March 1, 2018, WageWorks announced that it was delaying its Annual Report on Form 10-K for the year ended December 31, 2017, as well as its financial results and associated conference call for the fourth quarter of 2017. The Company further announced that there was a material weakness in its internal control over financial reporting as of December 31, 2017 related to managing change and assessing risk in the areas of non-routine and complex transactions. As a result of the material weakness, the Company concluded that its internal control over financial reporting and disclosure controls and procedures were ineffective as of December 31, 2017.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal control over financial reporting; (2) the Company’s financial statements dating back to the beginning of 2016 failed to adequately account for managing change and assessing risk in the areas of non-routine and complex transactions; (3) the Company’s financial statements contained errors; (4) the Company’s financial statements dating back to the first quarter of 2016 were not reliable; and (5) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired WageWorks securities and suffered a loss, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On March 1, 2018, WageWorks announced that it was delaying its Annual Report on Form 10-K for the year ended December 31, 2017, as well as its financial results and associated conference call for the fourth quarter of 2017. The Company further announced that there was a material weakness in its internal control over financial reporting as of December 31, 2017 related to managing change and assessing risk in the areas of non-routine and complex transactions. As a result of the material weakness, the Company concluded that its internal control over financial reporting and disclosure controls and procedures were ineffective as of December 31, 2017.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal control over financial reporting; (2) the Company’s financial statements dating back to the beginning of 2016 failed to adequately account for managing change and assessing risk in the areas of non-routine and complex transactions; (3) the Company’s financial statements contained errors; (4) the Company’s financial statements dating back to the first quarter of 2016 were not reliable; and (5) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired WageWorks securities and suffered a loss, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.