NEW YORK, Dec. 29, 2016 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies
investors that a class action lawsuit has been filed against of
Universal Health Services, Inc. ("Universal Health" or the
"Company") (NYSE: UHS) and certain of its officers, and is on
behalf of a class consisting of all persons or entities who
purchased Universal Health securities from February 26, 2015 through December 7, 2016, both dates inclusive (the
"Class Period"). Such investors are advised to join this case
by visiting the firm's site: http://www.bgandg.com/uhs.
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 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 the patient's medical needs;
(2) Universal Health would keep patients admitted until their
insurance payments ran out in order to bill for the maximum of its
services; (3) accordingly, Universal Health's revenues from
inpatient care relied on unjustifiable practices; (4) due to the
aforementioned, Universal Health lacked efficient internal control
regarding its practices and policies of admitting patients; and (5)
consequently, Universal Health's public statements were materially
false and misleading at all relevant times.
On December 7, 2016 Buzzfeed
released its investigation into Universal Health "…based on
interviews with 175 current and former UHS staff, including 18
executives who ran UHS hospitals; more than 120 additional
interviews with patients, government investigators, and other
experts; and a cache of internal documents." Buzzfeed reported that
"[c]urrent and former employees from at least 10 UHS hospitals in
nine states said they were under pressure to fill beds by almost
any method – which sometimes meant exaggerating people's symptoms
or twisting their words to make them seem suicidal – and to hold
them until their insurance payments ran out." Following this news,
Universal Health stock dropped $15.01
per share or nearly 12% to close at $111.36 on December 7,
2016.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
http://www.bgandg.com/uhs or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss
in Universal Health you have until February
21, 2017 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