Law Offices of Howard G. Smith reminds investors of the upcoming October 6, 2015 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of purchasers of the securities of TriNet Group, Inc. (“TriNet” or the “Company”) (NYSE:TNET) who purchased TriNet shares between May 5, 2014 and August 3, 2015 inclusive (the “Class Period”).
On August 3, 2015, after the market close, TriNet reported a second-quarter loss of $1.3 million, after reporting a profit in the same period a year earlier. TriNet, a human resources services outsourcing company, said it had a loss of 2 cents per share during the quarter, and earnings, adjusted for one-time gains and costs, of 14 cents per share, due to increases in large medical claims, higher than expected workers compensation costs, and high-volume medical claims. The results missed Wall Street analyst expectations where expectations were for earnings of 27 cents per share. On this news shares of TriNet dropped significantly thereby damaging investors.
The complaint alleges that TriNet misled investors by failing to adequately disclose that (a) the Company's processes and methodologies for analyzing and accruing claims failed to properly account for historical claims trends; (b) the Company's forecasting process failed to properly incorporate relevant historical and current claims trends; and (c) the Company was experiencing growing claims trends in medical and workers compensation that negatively affected the Company's current and future business prospects.
If you purchased shares of TriNet during the Class Period you are permitted 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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