The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the officers and Board of Directors of Community Health Systems, Inc. (“Community Health” or “CYH”) (NYSE: CYH) during the period July 27, 2006 through April 11, 2011 (“Class Period”).
It has been alleged in a recently-filed complaint that Community Health and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to Community Health’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that: (a) Community Health’s growth statistics, revenues, and profits were artificially inflated due to CYH’s improper admissions procedures designed to overbill Medicare and others for patient admissions; (b) notwithstanding defendants’ statements touting the financial and strategically compelling advantages that would result from CYH’s acquisition of Tenet Healthcare, the truth was that CYH’s growth statistics, revenues, and profits were artificially inflated, making the potential synergies arising from the acquisition much less compelling than represented; (c) defendants knew that the profit and revenue numbers forecasted to the market were illusory and unattainable; and (d) as a result, defendants’ statements regarding the company’s financial performance and expected earnings were false, misleading, and lacked a reasonable basis.
If you currently own or purchased Community Health/CYH shares and would like additional information regarding this investigation, or if you have information regarding the allegations, please contact Patrick Powers, toll free at (877) 728-9607 or via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.