Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Insperity, Inc. (NYSE: NSP).
Throughout the first half of 2019, the Company reported financial results significantly higher year-over-year and raising its guidance to shareholders. However, the Company subsequently reported repeated downgrades to its financial forecasts as well as disclosing that large medical claims had impacted the Company by significantly increasing operational costs. Finally, on February 11, 2020, the Company reported its financial results again downgrading guidance, that large medical claims had again impacted the Company, as well as disclosing that it had restructured its contract with UnitedHealthcare to no longer have financial responsibility for any medical claims over $1 million.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remain ongoing.
KSF’s investigation is focusing on whether Insperity’s officers and/or directors breached their fiduciary duties to Insperity’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Microchip shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.