NEW ORLEANS, June 10, 2016 /PRNewswire/ -- Kahn Swick &
Foti, LLC ("KSF") and KSF partner, the former Attorney General of
Louisiana, Charles C. Foti, Jr., remind investors that they
have until July 11, 2016 to
file lead plaintiff applications in a securities class action
lawsuit against HCP, Inc. (NYSE: HCP), if they purchased the
Company's securities between March 30,
2015 and February 8, 2016,
inclusive (the "Class Period"). This action is pending in the
United States District Court for the Northern District of
Ohio.
What You May Do
If you purchased shares of HCP and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to
serve as a lead plaintiff in this class action, you must petition
the Court by July 11,
2016.
About the Lawsuit
HCP, HCR ManorCare, Inc. ("ManorCare"), and certain of their
executives are charged with failing to disclose material
information during the Class Period, including that ManorCare, most
important client, was engaged in rampant billing fraud, violating
federal securities laws.
On April 21, 2015, HCP disclosed
that the DOJ had intervened in whistleblower lawsuits against
ManorCare. On May 5, 2015, HCP
disclosed that it had recorded a $478
million impairment charge related to lease arrangements with
ManorCare. Then, on February 9,
2016, HCP disclosed that it had written down its 10% equity
stake in ManorCare to zero and had taken an $836 million impairment on its ManorCare lease
assets.
On this news, the price of HCP's stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a
law firm focused on securities, antitrust and consumer class
actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New
York, California and
Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC