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. Defendants filed a Motion to Dismiss the amended Complaint on March 9. On March 29, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. On December 6, the parties entered into a Stipulation of Settlement. The Court issued an Order granting preliminary approval of the Settlement on January 6, 2020. On May 6, 2020, the Court granted final approval of the Settlement and entered Final Judgment.