The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of WageWorks, Inc. (NYSE: WAGE) who purchased shares between May 6, 2016 and March 1, 2018. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the WAGE lawsuit alleges that (1) there were material weaknesses in WageWorks’ systems of internal controls and that its practices and controls were ineffective; (2) WageWorks failed to adequately manage and assess risk relating to certain complex transactions, including certain government contracts; (3) WageWorks improperly recognized revenue thereby inflating its earnings and related financial metrics; and (4) as a result, WageWorks’ financial statements were materially false and misleading at all relevant times.
Shareholders have until May 8, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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