Key Developments: Huron Consulting Group Inc (HURN.OQ)
43.47USD
23 May 2013
$0.50 (+1.16%)
$42.97
$42.67
$43.54
$42.67
21,918
32,797
$44.54
$28.53
Latest Key Developments (Source: Significant Developments)
Huron Consulting Group Inc Reaffirms FY 2013 Guidance
Huron Consulting Group Inc announced that based on currently available information, the Company affirmed guidance, which was previously announced on February 20, 2013, for fiscal 2013 revenues before reimbursable expenses in a range of $655.0 million to $685.0 million. The Company anticipates EBITDA in a range of $118.5-$127.0 million, Adjusted EBITDA in a range of $120.5-$129.0 million, GAAP diluted earnings per share in a range of $2.25 to $2.45, and non-GAAP adjusted diluted earnings per share in a range of $2.45 to $2.65. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $684.8 million, EBITDA of $127.3 and EPS of $2.60 for fiscal 2013. Full Article
Huron Consulting Group Inc Issues FY 2013 Guidance; Earnings Guidance Below Analysts' Estimates
Huron Consulting Group Inc announced that for fiscal 2013, it expects revenues before reimbursable expenses in a range of $655.0 million to $685.0 million. The Company also anticipates EBITDA in a range of $118.5 million to $127.0 million, Adjusted EBITDA in a range of $120.5 million to $129.0 million, GAAP diluted earnings per share in a range of $2.25 to $2.45, and non-GAAP adjusted diluted earnings per share in a range of $2.45 to $2.65. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $683.1 million, EBITDA of $133.3 and EPS of $2.60 for fiscal 2013. Full Article
Huron Consulting Group Inc Lowers FY 2012 Guidance
Huron Consulting Group Inc announced that for fiscal 2012, it expects revenues before reimbursable expenses in a range of $615.0-$625.0 million, adjusted EBITDA in a range of $112.5-$115.5 million, GAAP diluted earnings per share in a range of $1.55-$1.65, and non-GAAP adjusted diluted earnings per share in a range of $2.25-$2.35. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $631 million, EBITDA of $117 million for fiscal 2012. Full Article
Huron Consulting Group, Inc. Narrows FY 2012 Revenue And EBITDA Guidance To A Range In Line With Analysts' Estimates; Narrows FY 2012 EPS Guidance
Huron Consulting Group, Inc. announced that for fiscal 2012, it expects revenues before reimbursable expenses in a range of $630.0 to $650.0 million, EBITDA in a range of $107.0 to $112.5 million, adjusted EBITDA in a range of $116.0 to $121.5 million, GAAP diluted earnings per share in a range of $1.90 to $2.05, and non-GAAP adjusted diluted earnings per share (EPS) in a range of $2.30 to $2.45. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $635.7 million and EBITDA of $117.8 million for fiscal 2012. Full Article
Huron Consulting Group, Inc. Announces Settlement With Securities And Exchange Commission
Huron Consulting Group, Inc. announced it has reached a final settlement with the U.S. Securities and Exchange Commission (SEC) resolving the previously disclosed SEC investigation into the Company’s August 2009 restatement of its financial statements for the years ended 2006, 2007 and 2008 and the first quarter of 2009. In an administrative proceeding, the SEC found that the Company had violated the reporting, books and records, and internal controls provisions of the Securities Exchange Act of 1934 during the restatement period and ordered the Company to cease and desist from committing or causing any violations and any future violations of such SEC rules. The Company agreed to the settlement without admitting or denying the SEC’s factual findings. The SEC also imposed a monetary penalty of $1 million on the Company. In the fourth quarter of 2011, the Company established a reserve in that amount for the potential settlement of this matter. In connection with the settlement, the SEC considered remedial acts promptly undertaken by the Company and the Company’s cooperation with the SEC staff during the course of the investigation. Among other things, the Company self-investigated and self-reported the accounting errors, selected new management and implemented various additional controls designed to prevent similar errors going forward. Full Article
Huron Consulting Group, Inc. Announces Acquisition of AdamsGrayson
Huron Consulting Group, Inc. announced the acquisition of AdamsGrayson, a managed review and legal staffing firm based in Washington, D.C. AdamsGrayson will become part of Huron Legal, the Legal Consulting segment of Huron Consulting Group. AdamsGrayson, founded in 1998, serves the needs of law firms and corporate law departments with a more than 200-seat review facility in the D.C. metropolitan area. AdamsGrayson has a team of project managers who, under the supervision of lawyers, provide document review services at the client site or at the AdamsGrayson facility. AdamsGrayson also provides strategic consulting on information risk management, litigation readiness, and e-discovery management. The asset purchase transaction, for which Huron will pay $21.5 million in cash and $10.0 million in deferred payments, is expected to close in July. Caleb King, president, and Peter Gronvall, managing partner, of AdamsGrayson will become managing directors in Huron Legal. In all, approximately 15 AdamsGrayson employees and its more than 200-seat facility will become part of Huron Legal. Full Article
Case Western Reserve University Selects Huron Consulting Group, Inc.'s Click Portal Software For Grants Management Processes
Huron Consulting Group, Inc. announced that Case Western Reserve University has chosen the Company’s Click Portal software to manage sponsored program administration from proposal generation and submission through award management. Full Article
Huron Consulting Group, Inc. Reaffirms FY 2012 Guidance
Huron Consulting Group announced that for fiscal 2012, it expects revenue in a range of $620.0 million to $660.0 million, EBITDA in a range of $103.0 million to $113.0 million, Adjusted EBITDA in a range of $113.5 million to $123.5 million, GAAP diluted earnings per share (EPS) in a range of $1.80 to $2.05, and non-GAAP adjusted diluted EPS in a range of $2.25 to $2.50. Full Article
Holzer Holzer & Fistel, LLC Announces Investigation Into Potential Claims For Breaches Of Fiduciary Duty By Certain Officers And Directors Of Huron Consulting Group, Inc.
Holzer Holzer & Fistel, LLC announced that it is investigating potential breaches of fiduciary duty by certain officers and directors of Huron Consulting Group, Inc. (“Huron” or the “Company”). On February 16, 2012, a federal judge for the United States District Court for the Southern District of New York refused to dismiss a whistleblower lawsuit against the Company. The lawsuit alleges Huron violated the federal and New York False Claims Acts by submitting reimbursement claim forms to Medicare and Medicaid for services that did not conform to regulations. The whistleblower suit further alleges Huron kept a second set of financial books to keep track of the fraud. Holzer Holzer & Fistel, LLC’s investigation seeks to determine if Huron’s Board of Directors breached its fiduciary duty to Company shareholders in connection with the alleged violations of the law. Full Article
Law Firm of Levi & Korsinsky, LLP Announces Investigation Of Huron Consulting Group, Inc.
Law Firm of Levi & Korsinsky, LLP announced that it is investigating potential claims of breaches of fiduciary duty by the board of directors of Huron Consulting Group, Inc. (Huron or the Company). Specifically, the investigation concerns whether members of the Board of Directors engaged in a scheme to defraud the New York state and federal Medicare programs by allegedly submitted reimbursement claims for services that did not conform to regulations. Huron is the subject of a federal whistleblower lawsuit in which it is alleged that the Company maintained a second set of financial records to monitor the alleged fraud. Full Article
Huron wins dismissal of whistleblower lawsuit
NEW YORK - Huron Consulting Group Inc won the dismissal Tuesday of a whistleblower lawsuit accusing it of causing a New York hospital to receive more than $30 million in inflated payments under the Medicare and Medicaid programs.
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