SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of HCP, Inc. of Class Action Lawsuit and a Lead Plaintiff Deadl...
June 29 2016 - 4:29PM
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.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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