Shares of Addus HomeCare (NASDAQ:ADUS) have been quite volatile over the last nine months. The stock was on a steady trajectory higher from lows under $5 to a high just north of $32. However, shares took their first hit last November after the company filed an S-3 shelf registration that allowed certain existing shareholders to register their stock for sale.
Shares started to rebound and were hit again this past March when Addus announced that "the Company believes material weaknesses in internal controls over financial reporting existed as of December 31, 2013, principally related to general controls over its information technology, including user access and change management activities and to overall controls related to its payroll system and...
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