WAYNE, Pa., Jan. 6, 2017 /PRNewswire/ -- RM LAW, P.C.
announces that a class action lawsuit has been filed in United
States District Court for the Eastern District of Pennsylvania on behalf of all persons or
entities that purchased Universal Health Services, Inc. ("Universal
Health" or the "Company") (NYSE: UHS) securities between
February 26, 2015 and December 7, 2016, inclusive (the "Class
Period").
Universal Health shareholders may, no later than February 21, 2017, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
Universal Health and would like to learn more about these claims or
if you wish to discuss these matters and have any questions
concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/uhs.
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 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 December 7, 2016, BuzzFeed
issued a report revealing the results of its investigation into
Universal Health. BuzzFeed's investigation was based upon
interviews with current and former Universal Health employees,
including executives who had operational responsibilities in
hospitals. The investigation also included interviews with patients
and government investigators. According to the report, employees
from Universal Health hospitals 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."
On this news, shares of Universal Health fell over 12% to close
at just $111.36 per share on
December 7, 2016.
If you are a member of the class, you may, no later than
February 21, 2017, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain RM LAW, P.C.
or other counsel of your choice, to serve as your counsel in this
action.
For more information regarding this, please contact RM LAW, P.C.
(Richard A. Maniskas, Esquire)
toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com
or visit: www.rmclasslaw.com/cases/uhs. For more information
about class action cases in general or to learn more about RM LAW,
P.C. please visit our website: www.rmclasslaw.com.
RM LAW, P.C. is a national shareholder litigation firm. RM
LAW, P.C. is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal
courts nationwide.
CONTACT: RM LAW, P.C.
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA
19087
484-588-5518
877-316-3218
www.rmclasslaw.com/cases/cnc
rmaniskas@rmclasslaw.com
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SOURCE RM LAW, P.C.