NEW YORK, March 13, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Addus HomeCare Corporation (" Addus HomeCare" or the "Company") (NasdaqGS: ADUS) (CUSIP: 006739106). Investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether Addus HomeCare and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 3, 2014, the Company announced in a Securities and Exchange Commission ("SEC") Form 8-K filing that, "as a result of the Corporation's increased stock price and overall market value as of the end of the second quarter of 2013, the Corporation became subject to the requirements of Section 404 of the Sarbanes-Oxley Act of 2002. Accordingly, the Corporation is now required to have an audit of its internal controls over financial reporting. The Corporation believes material weaknesses in internal controls over financial reporting existed as of December 31, 2013, principally related to general controls over its information technology, including user access and change management activities and to overall controls related to its payroll system and related processes."
On this news, shares of Addus HomeCare fell $3.86 to $25.30, or more than 13.24%, on unusually heavy trading volume, on March 13, 2014.The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT: Robert S. WilloughbyPomerantz LLP firstname.lastname@example.org SOURCE Pomerantz LLP