HCP INVESTOR ALERT: Hagens Berman Reminds HCP, Inc. (NYSE: HCP) Investors of July 11, 2016 Lead Plaintiff Deadline
May 26 2016 - 8:30AM
The following statement is being issued by Hagens Berman Sobol
Shapiro LLP:
To: All persons or entities who purchased or
otherwise acquired securities of HCP, Inc. (“HCP”
or the “Company”) (NYSE:HCP) between March 30, 2015 and
February 8, 2016.
You have until July 11, 2016 to request that
the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn’t require that you serve as a lead
plaintiff.
If you suffered $200,000 or more in losses in
HCP, contact Hagens Berman Sobol Shapiro LLP
partner Reed Kathrein, who is leading the firm’s
investigation by calling 510-725-3000, emailing
HCP@hbsslaw.com or visiting https://www.hbsslaw.com/cases/HCP.
The litigation concerns Defendants’ statements, in part, about
the financial condition of the Company’s largest tenant, ManorCare,
and about assurances to investors that assets HCP acquired
from ManorCare and revenue stream from its leases with ManorCare
were secure and unimpaired.
In addition, it concerns Defendants’ statements that ManorCare
had “a long history of compliance with regulations” in contrast
with the fact that the Department of Justice’s lawsuit against
ManorCare claiming it submitted over $6 billion dollars in false
claims for government reimbursements.
When HCP first disclosed, on May 5, 2015, that its ManorCare
assets were impaired by $478 million, HCP’s stock declined by
2.9%.
Then, when HCP disclosed on November 3, 2015 that its equity
interest in ManorCare was impaired by $27 million HCP’s stock
declined by 2.6%.
Finally, when HCP disclosed on February 9, 2016 that its
ManorCare equity interest was worth nothing and its ManorCare
assets were impaired by an additional $836 million, HCP’s stock
price declined 17%.
“HCP’s ManorCare-related problems were clearly material to HCP
investors, who should have been – but were not – fully informed of
them,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public
information regarding HCP should consider their options to help in
the investigation or take advantage of the SEC Whistleblower
program. Under the new SEC whistleblower program, whistleblowers
who provide original information may receive rewards totaling up to
30 percent of any successful recovery made by the SEC. For more
information, call Reed Kathrein at 510-725-3000 or
email HCP@hbsslaw.com.
About Hagens Berman Hagens Berman is a national investor-rights
law firm headquartered in Seattle, Washington with offices in 10
cities. The Firm represents investors, whistleblowers, workers and
consumers in complex litigation. More about the Firm and its
successes can be found at www.hbsslaw.com. Read the Firm’s
Securities Newsletter, and visit the blog. For the latest news
visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
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