NEW YORK, July 9, 2019 /PRNewswire/ -- Bernstein
Liebhard LLP reminds investors that approximately 2 weeks remain to
make a motion for lead plaintiff in a securities class action
lawsuit filed on behalf of those who purchased or acquired the
securities of Community Health Systems Inc. ("Community Health" or
the "Company") (NYSE:CYH) from February 20,
2017 to February 27, 2018,
(the "Class Period"). The lawsuit alleges claims under the
Securities Exchange Act of 1934 and seeks to recover Community
Health shareholders' investment losses.
If you purchased Community Health securities, and/or would
like to discuss your legal rights and options please visit
Community Health Systems Inc. Shareholder Class Action Lawsuit or
contact Matthew E.
Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
According to the lawsuit, throughout the Class Period,
Defendants made materially false and/or misleading statements, as
well as failed to disclose material adverse facts about the
Company's business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that the Company
had understated its contractual allowances; (2) that the Company
had understated its provision for bad debts; (3) that, as a result,
the Company had overstated its net operating revenue; (4) that, as
a result, the Company had understated its net loss; and (5) that,
as a result of the foregoing, Defendants' positive statements about
the Company's business, operations, and prospects were materially
misleading and/or lacked a reasonable basis.
On February 27, 2018, the Company
announced its fourth quarter and full year 2017 financial results,
which included a $591 million
increase in contractual allowances and bad debt provision. On this
news, the Company's share price fell $1.06 per share, more than 17%, to close at
$5.12 per share on February 28, 2018, on unusually heavy trading
volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than July 29, 2019. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
If you purchased CYH securities, and/or would like to discuss
your legal rights and options please visit
https://www.bernlieb.com/cases/communityhealthsystem-cyh-shareholder-class-action-stock-fraud-145/ or
contact Matthew E.
Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in The
Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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