HCP SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of...
May 27 2016 - 10:07PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160527005006/en/
Kahn Swick & Foti, LLCLewis Kahn, 1 877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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