Syneos, Execs Sued for Misleading Investors Before Stock Drop

Syneos Health Inc. and its executives allegedly misled investors about the company’s rebound from negative impacts of the Covid-19 pandemic on the business, a new class action says.

The revelation last year that the biopharmaceutical company’s operations had been in disarray for at least 18 months caused the share price to plummet to less than $23 per share, down 77% from its highest point, the complaint filed in the US District Court for the Southern District of New York says.

The United Association of Plumbers and Pipefitters, Journeymen, Local #38 pension plan claims its proposed class suffered hundreds of ...