Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Community Health Systems, Inc. (NASDAQ: CYH) concerning allegedly false and misleading statements made to investors.
The company allegedly made multiple false and misleading public statements regarding its earnings and compliance with federal regulations, causing its share price to be inflated. These public statements allegedly misrepresented and/or failed to disclose the company systematically overcharged Medicare, state Medicaid programs, and private insurers by unnecessarily admitting patients on an inpatient basis, and billing for the unnecessary care. Upon revelation of this alleged misconduct, Community Health Systems’ share price fell dramatically. The company’s shares have lost approximately 25% of their value, falling from $40.30 on April 8 to $31.08 on May 9.
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