SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds Investors of Commencement of a Class Action Involving HCP, Inc. & ...
June 06 2016 - 1:27PM
Business Wire
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160606006273/en/
The Law Offices of Vincent WongVincent Wong, Esq.,
212-425-1140Fax: 866-699-3880vw@wongesq.com
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