Haeggquist & Eck, LLP Investigates Molina Healthcare Directors & Officers for Breach of Fiduciary Duty Regarding Misrepresent...

Date : 10/22/2018 @ 2:00PM
Source : Business Wire
Stock : Molina Healthcare (MOH)
Quote : 127.45  0.0 (0.00%) @ 8:59AM

Haeggquist & Eck, LLP Investigates Molina Healthcare Directors & Officers for Breach of Fiduciary Duty Regarding Misrepresent...

Molina Healthcare (NYSE:MOH)
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1 Year : From May 2018 to May 2019

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Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of Molina Healthcare, Inc. (“Molina” or the “Company”) (NYSE: MOH) breached their fiduciary duties to Molina and its shareholders. If you are a Molina shareholder, you are encouraged to contact Amber Eck at (619) 342-8000 or ambere@haelaw.com for additional information.

Haeggquist & Eck is investigating whether certain members of the board of directors (the “Board”) made false and/or misleading statements and/or failed to disclose that: (1) Molina’s administrative infrastructure was never designed to handle the size and complexity of Molina’s rapid growth strategy; (2) Molina failed to remediate systemic issues and costly disruptions with critical administrative infrastructure functions, including provider payment and utilization management; and (3) as a result, Molina common stock traded at artificially inflated prices during the Class Period.

On August 2, 2017, the Company withdrew its 2017 earnings outlook and announced that it will eliminate 1,500 jobs and exit certain Obamacare markets after posting a steep second quarter loss. On this news, Molina shares fell nearly 6%, or $3.92 per share, to close at $62.32 per share on August 3, 2017. The Company’s shares continued to fall on the following trading day, closing down $2.52 per share, or over 4%, to close at $59.80 per share on August 4, 2017.

Our investigation concerns whether the Company’s Board has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

What You Can Do

If you are a Molina shareholder, you may have claims against the Company’s directors and officers. If you wish to discuss this notice or if you have questions about this notice or your legal rights, please contact Amber Eck at 619-342-8000 or e-mail her at ambere@haelaw.com. There is no cost or obligation to you.

Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.

This release constitutes attorney advertising. Past results do not guarantee a similar outcome.

Haeggquist & Eck, LLPAmber Eck, 619-342-8000ambere@haelaw.com

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