The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of HCP, Inc. Investors & Encou...
June 16 2016 - 1:08PM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
HCP, Inc. (“HCP” or the “Company”) (NYSE: HCP) securities between
March 30, 2015 and February 8, 2016, inclusive (the “Class
Period”). HCP investors have until July 11,
2016 to file a lead plaintiff motion.
Investors who suffered losses on their HCP investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email
to howardsmith@howardsmithlaw.com.
HCP invests in real estate assets, and one of the Company’s
largest investments was in ManorCare, a Company that owned and
operated nursing homes and rehabilitation centers. According to
recent reports ManorCare engaged in an egregious insurance fraud
scheme whereby ManorCare submitted over $6 billion in false claims
for reimbursement. On news of the alleged insurance fraud, HCP’s
shares fell significantly in value thereby damaging investors.
The class action complaint alleges that HCP violated securities
laws by failing to disclose during the class period that ManorCare
was engaged this rampant billing fraud, and that, as a result, the
value of HCP’s interest in ManorCare was questionable.
If you purchased shares of HCP during the Class Period you may
move the Court no later than July 11, 2016 to ask
the Court to appoint you as lead plaintiff. To be a member of the
Class you need not take any action at this time; you may retain
counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this
action, or if you have any questions concerning this announcement
or your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020
by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160616006231/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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