NEW YORK, May 11, 2016 /PRNewswire/ -- Attorney Advertising
-- Bronstein, Gewirtz & Grossman, LLC, notifies investors of
class action against HCP, Inc. ("HCP" or "the Company") (NYSE:
HCP). The class action has been filed on behalf of a class
consisting of all persons or entities who purchased HCP from
March 30, 2015 through February 8, 2016, inclusive (the "Class
Period").
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that Defendants violated securities laws
by misleading investors and failing to disclose that during the
class one HCP's chief clients, ManorCare, was engaged in extensive
billing fraud that may have generated roughly $6 billion in false settlement claims, and that
the value of HCP's interest in ManorCare was dubious.
On April 21, 2015, HCP revealed
that the U.S. Department of Justice had intervened in whistleblower
lawsuits. On May 5, 2015, HCP
reported a $478 million non-cash
impairment charge in connection with its lease arrangements with
ManorCare. On February 9, 2016, HCP
revealed 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."
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint and join the action, visit the
firm's website: http://www.bgandg.com/#!hcp/cv82w. To discuss this
action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
info@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number. If you
suffered a loss in DS Healthcare 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC