Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee on behalf of purchasers of Community Health Systems, Inc. (“CYH” or the “Company”) (NYSE: CYH) who purchased between July 27, 2006 and April 8, 2011 (the “Class Period”).
The complaint alleges that during the Class Period, defendants violated federal securities laws by issuing materially false and misleading statements. In particular, it is alleged that: (a) the Company reported artificially inflated revenue and profits as a result of improper admissions procedures designed to overbill Medicare, (b) CYH overstated the strategic advantages of the Company’s acquisition of Tenet Healthcare, (c) as a result of the aforementioned, defendants knew that their forecasted profits and revenue were unattainable.
If you are a member of the class and suffered a loss in CYH stock, you have until July 8, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://www.zlk.com/community-health-systems-cyh.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.