Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Adeptus Health, Inc.
Oklahoma City, OK (October 31, 2016) – On October 27, 2016, a securities class action lawsuit was filed in the United States District Court for the Eastern District of Texas against Adeptus Health, Inc. (NYSE: ADPT). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is April 23, 2015 through November 16, 2015. More specifically, this litigation was filed because on November 17, 2015, KUSA, an NBC-affiliated television station located in Denver, Colorado, aired an investigative report about the predatory billing practices at Adeptus Health’s Colorado First Choice emergency rooms. The report concluded that, after alleged months of investigation, the Company’s emergency rooms routinely treated lower acuity patients at urgent care facilities and excessively billed them for the services rendered. When this news was announced, Adeptus Health’s share price fell from $59.87 per share on November 16, 2015 to a closing price of $46.50 on November 17, 2015. Furthermore, the stock price has continued to decline since the SPO.
Plaintiff seeks to recover damages on behalf of all Adeptus Health, Inc. shareholders who purchased or acquired shares pursuant and/or traceable to the Company’s second public offering on or about July 31, 2015, or purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, December 27, 2016 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Mon, October 31, 2016
by Robin Hester filed under