NEW YORK, June 15, 2016 /PRNewswire/ -- The Law
Offices of Vincent Wong announce
that a class action lawsuit has been commenced in the USDC for the
Northern District of Ohio on
behalf of investors who purchased HCP, Inc. (NYSE: HCP) securities
between March 30, 2015 and
February 8, 2016.
Click here to learn about the case:
http://www.wongesq.com/pslra/hcp-inc. There is no cost or
obligation to you.
According to the complaint, 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. To
obtain additional information, contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.425.1140, or visit
http://www.wongesq.com/pslra/hcp-inc.
Vincent Wong, Esq. is an
experienced attorney that has represented investors in securities
litigations involving financial fraud and violations of shareholder
rights. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY
10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent
Wong