Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible violations of securities laws by Community Health Systems, Inc. (NYSE:CYH) and certain others (collectively, “Defendants”) on behalf of investors who purchased Community Health securities between July 27, 2006 and April 8, 2011, inclusive (the “Class Period”).
Weiss & Lurie is investigating whether Defendants issued materially false and misleading statements during the Class Period by, among other things, misrepresenting or failing to disclose that Community Health’s financial results were artificially inflated by systematic overcharging of Medicare and Medicaid, two of Community Health’s principal sources of revenue.
On April 11, 2011, a lawsuit was filed by Tenet Healthcare alleging securities fraud violations by Community Health through improper admissions tactics at its hospitals, to inflate revenue and profits from Medicare and Medicaid. In response to this news, Community Health’s stock price fell $14.41, or more than 35% on April 11, 2011. Shortly thereafter, on April 15, 2011, Community Health announced receipt of a subpoena from the U.S. Department of Health and Human Services, reportedly requesting documents relating to emergency department procedures and connected to an investigation into potentially improper Medicare and Medicaid claims.
If you purchased Community Health securities during the Class Period and suffered losses, or if you have any information that may be relevant to our investigation, please contact Michael A. Rogovin either by email at email@example.com or by telephone at (888) 593-4771. If you wish to serve as a lead plaintiff in a class action lawsuit against Community Health, you must file a motion with the Court by July 8, 2011. Any class member may move to serve as lead plaintiff, or can choose to do nothing and remain an absent class member.
Weiss & Lurie has litigated hundreds of class and derivative actions. If you have information or would like legal advice concerning possible corporate wrongdoing, consumer fraud, or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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