IRVINE, CA / ACCESSWIRE / August 20, 2016 / Khang & Khang LLP (the "Firm") announces that a class action lawsuit was filed against Inovalon Holdings, Inc. ("Inovalon" or the "Company") (INOV). Investors who purchased or otherwise acquired shares on or about the February 12, 2015 initial public offering (“IPO”) date, are encouraged to contact the Firm prior to the August 23, 2016, lead plaintiff motion deadline.

If you purchased Inovalon shares on or about the IPO date, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the complaint, Inovalon’s Registration Statement issued in connection with the IPO failed to disclose material facts and contained misleading and/or false statements. The Company did not disclose that it receives significant revenues from sales in New York City and New York State, both of which were pushing to collect more taxes from out-of-state businesses like Inovalon. The corporate tax rate increases were implemented on January 1, 2015. This increase significantly raised Inovalon’s effective tax rate, and lowered the Company’s 2015 earning potential. When this news was announced, the Company’s common stock value dropped significantly, causing investors harm.

If you would like to learn more about this lawsuit, or if you have any questions regarding this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in certain jurisdictions.


Contacts

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

Source: Khang & Khang LLP