WAYNE, Pa., Oct. 10, 2016 /PRNewswire/ -- Ryan &
Maniskas, LLP announces that a class action lawsuit has been filed
in United States District Court for the Central District of
California on behalf of all
persons or entities that purchased the common stock of Tenet
Healthcare Corp. ("Tenet" or the "Company") (NYSE: THC) between
February 28, 2012 and October 3, 2016, inclusive (the "Class
Period").
Tenet shareholders may, no later than December 6, 2016, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
Tenet and would like to learn more about these claims or if you
wish to discuss these matters and have any questions concerning
this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/thc.
The Complaint alleges that throughout the Class Period
defendants made false and/or misleading statements and/or failed to
disclose that: (1) Tenet unlawfully paid kickbacks to induce the
referral of patients to Tenet's hospitals for labor and delivery;
(2) through this scheme, Tenet deceived the Georgia Medicaid
program; and (3) consequently, defendants' statements about Tenet's
business, operations and prospects were materially false and
misleading and/or lacked a reasonable basis at all relevant
times.
On October 3, 2016, the U.S.
Department of Justice announced that Tenet and two of its hospitals
have agreed to pay more than $513
million and enter guilty pleas to resolve criminal and civil
claims accusing the companies of conspiring to defraud the
government concerning payments of kickbacks to clinics for
referrals of pregnant immigrants, who would falsely be told that
Medicaid would cover the cost of childbirth and newborn care only
if they delivered at a Tenet hospital.
Under the pleas, the subsidiaries will forfeit $145 million, which is the amount the hospitals
netted from Medicare and Medicaid for services provided to patients
referred as part of the scheme. Tenet will pay $368 million to settle alleged False Claims Act
violations in a whistleblower lawsuit, with the U.S. getting
$244 million and the state of
Georgia getting most of the
remainder.
If you are a member of the class, you may, no later than
December 6, 2016, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
For more information regarding this, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/thc. For more information about
class action cases in general or to learn more about Ryan &
Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas,
LLP
Richard A. Maniskas,
Esquire
995 Old Eagle School Rd., Suite
311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/thc
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP