Shareholders Sue as Medpace’s Book-to-Bill Ratio Falls Short

Medpace told investors cancellations were “well behaved” and a 1.15 book to bill was still in reach. Growth looked steady. Backlog looked strong. Confidence stayed high.

But behind the scenes, that optimism was hiding a different story. Throughout April, July, and October 2025, executives kept repeating that cancellations were under control and that the second half would hit that target. They even said the business strength was broad based, not tied to just a few studies.

Then came February 2026. Medpace finally revealed fourth quarter book to bill came in at just 1.04, after cancellations in metabolic trials spiked again. That miss caught investors off guard and undercut the growth story the complaint says management had promoted.

The fallout was immediate. Shares dropped about 16% in a single day as investors questioned whether the earlier confidence matched the risks the complaint says management failed to disclose. Shock turned into lawsuits.

Now, shareholders are taking a closer look at the case.