GPM Reminds Investors of the December 6th Deadline in the Class Action Lawsuit Against Tenet Healthcare Corp. & Encourages In...
December 05 2016 - 1:00PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
December 6, 2016 deadline to file a lead plaintiff motion in
the class action lawsuit filed on behalf of investors who purchased
or otherwise acquired Tenet Healthcare Corp. (“Tenet” or the
“Company”) (NYSE: THC) securities between February 28, 2012 and
October 3, 2016, inclusive (the “Class Period”). Tenet
investors have until December 6, 2016 to file a
lead plaintiff motion.
The complaint alleges that throughout the Class Period, Tenet
made false and misleading statements and/or failed to disclose
that: the Company illegally paid kickbacks to induce the referral
of patients to Tenet's hospitals for labor and delivery; that Tenet
defrauded the Georgia Medicaid program through this scheme; and
that as a result of the above, 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, Tenet revealed that it would pay $514
million to federal and state governments in order to settle claims
that the Company's hospitals in Georgia and South Carolina paid
kickbacks for obstetric referrals. Under the terms of the
settlement, two Tenet subsidiaries will plead guilty to one count
of conspiracy to violate federal kickback laws.
On this news, Tenet's share price fell over 4%, to close at just
$21.75 per share on October 3, 2016.
If you purchased or otherwise acquired Tenet shares during the
Class Period, you may move the Court no later than December
6, 2016 to request appointment as lead plaintiff. To be a
member of the class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn
more about this action, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
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/20161205006043/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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