WageWorks Inks $30M Deal In Investors' Padded Revenue Suit

By Dave Simpson (April 2, 2021, 9:28 PM EDT) -- WageWorks has agreed to pay $30 million to end a proposed securities fraud class action in California federal court accusing it of padding its revenue reports with money it was never supposed to get, according to investors asking for preliminary approval of the deal.

The investors also asked the court Thursday to certify, for the purpose of the settlement, two classes made up of the "many hundreds" of those who bought WageWorks common stock shares between May 2016 through March 2018, and those who bought WageWorks Inc.'s public offering shares in June 2017.

The investors argue that the deal, which provides...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!