Haeggquist & Eck, LLP Investigates Community Health Systems, Inc.’s Officers & Directors Regarding Understatement of Contra...
October 31 2019 - 9:00AM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether certain directors and
officers of Community Health Systems, Inc. (“Community Health” or
the “Company”) (NYSE: CYH) breached their fiduciary duties to the
Company and its shareholders. If you are a Community Health
shareholder, you are encouraged to contact Amber Eck at Haeggquist
& Eck for additional information.
Community Health, through its subsidiaries, owns, leases, and
operates acute care hospitals that are the principal providers of
healthcare services in non-urban communities.
Haeggquist & Eck is investigating whether certain members of
Community Health’s Board of Directors (the “Board”) made false
and/or misleading statements, as well as failed to disclose
material adverse facts, about Community Health’s business,
operations, prospects, and financial health. Specifically,
Haeggquist & Eck is investigating whether the Board failed to
disclose material information, including whether: (1) Community
Health had understated its contractual allowances; (2) Community
Health had understated its provision for bad debts; (3) that as a
result, Community Health had overstated its net operating revenue
and understated its net loss; and (4) that as a result of the
foregoing, positive statements about Community Health’s business,
operations, and prospects were materially misleading.
On February 27, 2018, Community Health announced its fourth
quarter and full year 2017 financial results, which included a $591
million increase in contractual allowances and bad debt provision.
On this news, Community Health’s share price fell $1.06/share, more
than 17%, to close at $5.12 per share on February 28, 2018.
What You Can Do
If you are a Community Health shareholder, you may have legal
claims against its directors and officers. If you wish to discuss
this investigation, or have questions about this notice or your
legal rights, please contact attorney Amber Eck at 619-342-8000 or
e-mail her at ambere@haelaw.com. There is no cost or obligation to
you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20191031005171/en/
Haeggquist & Eck, LLP 619-342-8000 Amber Eck,
ambere@haelaw.com
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