EQUITY ALERT: Rosen Law Firm Files Securities Class Action Lawsuit Against Universal Health Services, Inc. - UHS
December 23 2016 - 12:00PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces
that it has filed a class action lawsuit on behalf of purchasers of
Universal Health Services, Inc. securities (NYSE:UHS) from February
26, 2015 through December 7, 2016, both dates inclusive (the “Class
Period”). The lawsuit seeks to recover damages for Universal Health
investors under the federal securities laws.
To join the Universal Health class action, go to
http://www.rosenlegal.com/cases-1008.html or call Phillip Kim, Esq.
or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period Defendants
made false and/or misleading statements and/or failed to disclose
that: (1) Universal Health admitted patients based on its own
financial considerations and not upon the medical necessity of the
patient; (2) Universal Health would keep patients admitted until
their insurance payments ran out in order to ensure the maximum
payment for its services; (3) as a result, Universal Health’s
revenues from inpatient care relied on unsustainable practices; (4)
in turn, Universal Health lacked effective internal control
concerning its practices and policies of admitting patients; and
(5) as a result, Universal Health’s public statements were
materially false and misleading at all relevant times. On December
7, 2016, Buzzfeed published an investigative story on Universal
Health alleging, among other things, that Universal Health put
profits ahead of people. On this news, shares of Universal Health
fell $15.01 per share, or nearly 12%, from its previous closing
price to close at $111.36 per share on December 7, 2016, damaging
investors.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
February 21, 2017. If you wish to join the litigation, go to
http://www.rosenlegal.com/cases-1008.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or
via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Follow us for updates on LinkedIn:
https://www.linkedin.com/company/the-rosen-law-firm or on Twitter:
https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20161223005303/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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