Market Overview

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of WageWorks Inc. Investors (WAGE)


Prongay & Murray LLP
("GPM") announces that a class action
lawsuit has been filed on behalf of investors that purchased or
otherwise acquired securities of WageWorks Inc. ("WageWorks" or the
"Company") (NYSE: WAGE)
between May 6, 2016 and March 1, 2018, inclusive (the "Class
Period"). WageWorks investors have until May 8, 2018 to
file a lead plaintiff motion.

To obtain information or actively participate in the class action,
please visit the WageWorks page on our website at
Investors that suffered losses on their WageWorks investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to

On March 1, 2018, the Company announced a delay in the filing of its
annual report for the year ended December 31, 2017. The Company further
disclosed that it found a "material weakness in its internal control
over financial reporting" related to "managing change and assessing risk
in the areas of non-routine and complex transactions." WageWorks further
stated that its Audit Committee was investigating accounting matters,
and that the investigation may ultimately result in the identification
of other accounting issues. On this news the Company's share price fell
$9.75 per share, or nearly 20%, to close at $42.70 on March 1, 2018.

The complaint filed in this class action alleges that defendants during
the Class Period made materially false and/or misleading statements
and/or failed to disclose that: (1) there were material weaknesses in
WageWorks' systems of internal controls and that its practices and
controls were ineffective; (2) WageWorks failed to adequately manage and
assess risk relating to certain complex transactions, including certain
government contracts; (3) WageWorks improperly recognized revenue
thereby inflating its earnings and related financial metrics; and (4) as
a result, WageWorks' financial statements were materially false and
misleading at all relevant times.

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If you purchased shares of WageWorks during the Class Period you may
move the Court no later than May 8, 2018 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to,
or visit our website at
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

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