An investigation for investors in NASDAQ:NCIT shares over potential securities laws violations by NCI Inc (NASDAQ:NCIT and certain of its directors and officers was announced.
Investors who purchased shares of NCI Inc (NASDAQ:NCIT), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether certain statements by NCI Inc (NASDAQ:NCIT regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
NCI Inc reported that its annual Total Revenue grew from $317.03 million in 2014 to $333.10 million in 2015 and that its Net Income increased from $8.47 million in 2014 to $12.17 million in 2015.
Shares of NCI Inc (NASDAQ:NCIT) grew from $11.25 per share in early November 2016 to as high as $14.15 per share in early January 2017.
On January 23, 2017, NCI Inc announced that, based upon preliminary findings, it has discovered that its controller embezzled money from the Company. NCI Inc said that while the investigation is ongoing it believes that its former controller embezzled approximately $18 million over the last six years. NCI Inc said that of the estimated $18 million of embezzled funds, the Company believes that approximately $5 million was taken during 2016 and the remaining $13 million was taken over the prior five years.
Shares of NCI Inc (NASDAQ:NCIT) declined to as low as $12.35 per share on January 23, 2017.
Those who purchased NASDAQ:NCIT shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com