The Shuman Law Firm today announced that a class action lawsuit has been filed in the United States District Court for the Middle District of Tennessee on behalf of purchasers of the common stock of Community Health Systems, Inc. ("CYH" or the "Company") (NYSE:CYH) between July 27, 2006 and April 11, 2011, inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org or email Mr. Glenn at email@example.com.
The Complaint alleges that throughout the Class Period defendants misrepresented and/or failed to disclose, among other things: (i) CYH’s growth statistics, revenues, and profits were artificially inflated as a result of CYH’s improper admissions procedures designed to overbill Medicare and other sources for patient admissions; (ii) notwithstanding defendants' statements touting the financial and strategically compelling advantages that would result from CYH’s acquisition of Tenet Healthcare, CYH’s growth statistics, revenues, and profits were artificially inflated, making the potential synergies arising from the acquisition much less compelling than represented; and (iii) as a result, defendants knew that the profit and revenue numbers that they forecast to the market were unattainable.
If you purchased CYH common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than July 8, 2011. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.