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The Pawar Law Group announces it is investigating potential securities claims on behalf of shareholders of NCI, Inc. (or the “Company”) (NASDAQ: NCIT) resulting from allegations that management may have issued materially misleading business information to the investing public.
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On January 23, 2017, NCI announced that it has discovered that its controller embezzled approximately $18 million over the last six years, and $5 million in 2016 alone. NCI also stated that the unaudited interim financial statements for the nine-month period ending September 30, 2016, contained material errors related to the theft, and thus “the unaudited financial statements contained in the Company’s Quarterly Reports on Form 10-Q for the first three quarters of 2016 should not be relied upon by investors.” On this news, shares of NCI fell sharply during intraday trading on January 23, 2017.
Our investigation concerns whether the Company issued false and misleading statements to investors causing investor losses. If you own NCI shares and wish to learn how to protect your investment and recover your losses in NCI stock, please visit http://pawarlawgroup.com/cases/nci-inc/ or contact Vik Pawar at 212-571-0805.