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The Advisory Board Company

Case Summary

The Advisory Board Company Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 03/09/2018 (Ongoing date of last review)

Filing Date: August 03, 2017

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.

This case was voluntarily dismissed on December 15, 2017. A related case continues in the District of Columbia under 17-CV-01940.

Lead Plaintiffs filed an Amended Complaint on January 9, 2018.

Company & Securities Information

Defendant: The Advisory Board Company

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ABCO
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Monroe County Employees' Retirement System, et al. v. The Advisory Board Company, et al.

COURT: D. District Columbia
DOCKET #: 17-CV-05886
JUDGE: Hon. Lewis A. Kaplan
DATE FILED: 08/03/2017
CLASS PERIOD START: 01/21/2015
CLASS PERIOD END: 02/23/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  2. VanOverbeke Michaud & Timmony, P.C.
    79 Alfred Street, VanOverbeke Michaud & Timmony, P.C., MI 48201
    313.578.1200 313.578.1200 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint for Violations of the Federal Securities Laws 08/03/2017
2 Order Granting Motion for Appointment as Lead Plaintiff and Approval of Lead Plaintiff's Selection of Lead Counsel 10/27/2017
3 U.S. District Court Civil Docket 12/15/2017
4 Notice of Voluntary Dismissal without Prejudice 12/15/2017

Reference Complaint

City of Atlanta Firefighters' Pension Fund, et al. v. The Advisory Board Company, et al.

COURT: D. District Columbia
DOCKET #: 17-CV-01940
JUDGE: Hon. Lewis A. Kaplan
DATE FILED: 01/09/2018
CLASS PERIOD START: 01/21/2015
CLASS PERIOD END: 02/23/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Class Action Complaint 09/22/2017
2 Order Appointing Lead Plaintiff and Approving Selection of Counsel 10/27/2017
3 U.S. District Court Civil Docket 01/09/2018
4 Amended Class Action Complaint for Violations of the Federal Securities Laws 01/09/2018
 
 

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