Robbins LLP Probes Simulation Plus Over Financial Reporting Failures

The inquiry centers on a series of disclosures that eroded shareholder value over the summer of 2025. On June 11, the San Diego-based firm cited market uncertainty while lowering its revenue outlook, a move that sent shares tumbling from $26.44 to $20.05. The situation worsened in July when the company reported a $67.3 million net loss and a $77.2 million non-cash impairment charge.

By July 15, the instability reached the boardroom as Simulation Plus dismissed its independent auditor, Grant Thornton LLP. The company admitted that failures in segment reporting and internal controls had stalled the filing of its Form 10-Q. This revelation triggered a second sharp decline, pushing the stock price down another 26% to $12.97. Robbins LLP is currently evaluating whether these financial irregularities constitute a breach of fiduciary duty or a violation of securities laws, potentially offering legal recourse to investors who incurred losses during this period.