Company Website:
http://www.ksfcounsel.com
NEW ORLEANS -- (Business Wire)
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until July 11, 2016 to file lead plaintiff applications in a
securities class action lawsuit against HCP, Inc. (NYSE: HCP), if they
purchased the Company’s securities between March 30, 2015 and February
8, 2016, inclusive (the “Class Period”). This action is pending in the
United States District Court for the Northern District of Ohio.
What You May Do
If you purchased shares of HCP and would like to discuss your legal
rights and how this case might affect you and your right to recover for
your economic loss, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by July 11, 2016.
About the Lawsuit
HCP, HCR ManorCare, Inc. (“ManorCare”), and certain of their executives
are charged with failing to disclose material information during the
Class Period, including that ManorCare, most important client, was
engaged in rampant billing fraud, violating federal securities laws.
On April 21, 2015, HCP disclosed that the DOJ had intervened in
whistleblower lawsuits against ManorCare. On May 5, 2015, HCP disclosed
that it had recorded a $478 million impairment charge related to lease
arrangements with ManorCare. Then, on February 9, 2016, HCP disclosed
that it had written down its 10% equity stake in ManorCare to zero and
had taken an $836 million impairment on its ManorCare lease assets.
On this news, the price of HCP’s stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160527005006/en/
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, 1 877-515-1850
Managing
Partner
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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