IMPORTANT INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Adeptus Health Inc. & Encourages In...
October 27 2016 - 9:49PM
Business Wire
Lundin Law PC, a shareholder rights firm, announces a class
action lawsuit has been filed against Adeptus Health Inc. (“Adeptus
Health” or the “Company”) (NYSE: ADPT) on behalf of purchasers of
Adeptus Health securities pursuant and/or traceable to the
Company’s secondary public offering (the “SPO”) on or about July
31, 2015, or purchasers of common shares between April 23, 2015 and
November 16, 2015, inclusive (the “Class Period”). Investors, who
purchased or otherwise acquired shares during the SPO or the Class
Period, are encouraged to contact the firm in advance of the
December 27, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class
is certified, you are not considered represented by an attorney.
You may also choose to do nothing and be an absent class
member.
The complaint alleges that Adeptus Health made material false
and/or misleading information and/or failed to disclose: that the
Company engaged in widespread predatory billing practices,
particularly with respect to lower acuity level patients;
that Adeptus Health’s predatory billing practices subjected
the Company to numerous known but undisclosed risks, such as
financial risks, reputational risks, risks associated with improper
financial reporting, civil or criminal sanctions, and even
exclusion from federal and state healthcare programs; that the
Company’s financial statements were not prepared in conformity with
Generally Accepted Accounting Principles; that contrary to the
Company’s representations about its practice of referring lower
acuity patients to urgent care facilities, Adeptus Health routinely
treated lower acuity patients and excessively billed them for
services; and that as a result of the above, Adeptus Health lacked
a reasonable basis for its statements about its business and future
financial prospects at all relevant times. On November 17, 2015,
KUSA, an NBC-affiliated television station located in Denver,
Colorado, aired an investigative report about the predatory billing
practices at Adeptus Health’s Colorado First Choice emergency
rooms. When this news was announced, shares of Adeptus Health fell
in value, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders’
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161027007021/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.comhttp://lundinlawpc.com/