According to the law firm press release, Advisory Board is a provider of software and solutions to the higher education and healthcare industries. On January 9, 2015, Advisory Board completed the acquisition of Royall & Company (“Royall”), described as the higher-education leader in strategic, data-driven student engagement and enrollment management solutions, financial aid optimization, and alumni fundraising.
The complaint alleges that during the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Advisory Board’s business and operations, including that there were severe integration problems associated with Advisory Board’s acquisition of Royall and, as a consequence of these integration problems, defendants had no basis to increase the revenue guidance for Royall during the Class Period. As a result of defendants’ false statements and/or omissions, Advisory Board common stock traded at artificially inflated prices during the Class Period.
On October 27, 2017, Lead Plaintiffs and Counsel were appointed.