According to the Complaint, Insperity, Inc. provides its customers with an array of HR and business outsourcing solutions designed to help improve business performance.

The Complaint alleges that, throughout the Class Period, Defendants failed to disclose, and would continue to omit, the following adverse facts pertaining to the Company’s business, operations, and financial condition, which were known to or recklessly disregarded by Defendants: (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) Insperity 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 Insperity’s financial results.

On October 23, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on December 22. On December 24, Lead Plaintiff corrected the amended Complaint.

Defendants filed a Motion to Dismiss the amended Complaint on April 26, 2021. On March 15, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice and the Clerk of Court was directed to close the case.