NEW YORK, NY / ACCESSWIRE / August 11, 2015 / Pomerantz LLP is investigating claims on behalf of investors of TriNet Group, Inc. ("TriNet" or the "Company") (NYSE: TNET). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether TriNet and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 3, 2015, TriNet announced disappointing fourth quarter fiscal 2014 financial results, missing both its insurance revenue and income expectations due to an increase in large medical claims. On May 5, 2015, TriNet announced its financial results for the first quarter of fiscal 2015, again missing expectations due to higher than expected workers compensation costs. Then, on August 3, 2015, the Company issued a press release announcing its second quarter fiscal 2015 financial results. The Company reported financial results that missed both revenue and earnings per share estimates by a wide margin due to another increase in high-volume medical claims.
On this news, the Company's stock price declined 38%, from a close of $26.69 per share on August 3, 2015 to a close of $16.33 per share on August 4, 2015, on high trading volume.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
