INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of HCP, Inc. of Class Action Lawsuit & a Lead Plaintiff Deadline o...
June 24 2016 - 2:44PM
Business Wire
The following statement is being issued by Levi & Korsinsky,
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 are hereby notified that a
class action lawsuit has commenced in the USDC for the Northern
District of Ohio. To get more information go to:
http://www.zlk.com/pslra/hcp
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972. There is no cost or obligation to you.
The complaint alleges that HCP violated securities laws by
failing to disclose during the class period that one of the
Company’s major clients, ManorCare, was engaged in rampant billing
fraud that may have generated more than $6 billion in false claims
for reimbursement, and that the value of HCP’s interest in
ManorCare was questionable.
On April 21, 2015, HCP disclosed that the U.S. Department of
Justice had intervened in whistleblower lawsuits. Then on May 5,
2015, HCP disclosed a recorded $478 million non-cash impairment
charge related to certain of its lease arrangements with ManorCare.
Then on February 9, 2016, HCP disclosed that its equity stake in
ManorCare had been written down to zero, and that it had taken an
$836 million non-cash impairment on its ManorCare lease assets and
placed all of its ManorCare real estate assets on a “Watch
List.”
If you suffered a loss in HCP 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.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation, and have recovered
hundreds of millions of dollars for aggrieved shareholders.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160624005697/en/
Levi & Korsinsky, LLPJoseph E. Levi, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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