Inovalon Holdings Inc (NASDAQ:INOV) Investor Investigation Over Potential Breaches Of Fiduciary Duties Announced

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Company Name(s): 
Inovalon Holdings
Affected Securities: 

December 30, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Inovalon Holdings Inc (NASDAQ:INOV) was announced over potential breaches of fiduciary duties by certain officers and directors at Inovalon Holdings Inc.

The investigation by a law firm concerns whether certain Inovalon Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.

In late March 2015 Inovalon Holdings Inc reported its fourth quarter and full year 2014 results. Inovalon Holdings Inc reported that its annual Total Revenue rose from $295.80 million in 2013 to $361.54 million in 2014 and that its Net Income increased from $32.72 million in 2013 to $65.35 million in 2014.

On December 12, 2016, Inovalon Holdings Inc announced that it lowered its revenue and earnings guidance for full year 2016. Shares of Inovalon Holdings Inc (NASDAQ:INOV) declined to as low as $8.60 per share on December 14, 2016.

On December 30, 2016, NASDAQ:INOV shares closed at $10.30 per share.