NEW YORK, July 22, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Insperity, Inc. (“Insperity” or the “Company”) (NYSE: NSP) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Insperity between February 11, 2019 and February 11, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Insperity investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had failed to negotiate appropriate rates with its customers for employee benefit plans and did not adequately disclose the risk of large medical claims from these plans; (ii) the Company was experiencing an adverse trend of large medical claims; (iii) as a mitigating measure, the Company would be forced to increase the cost of its employee benefit plans, causing stunted customer growth and reduced customer retention; and (iv) the foregoing issues were reasonably likely to, and would, materially impact the Company’s financial results. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Insperity during the Class Period should contact the Firm prior to the September 21, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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