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SAN FRANCISCO, Nov. 23, 2016 -- Hagens Berman Sobol Shapiro LLP alerts investors in Adeptus Health Inc. (NYSE:ADPT) to the expanded class period in the securities class action lawsuit filed in the U.S. District Court for the Eastern District of Texas and reminds them of the December 27, 2016 Lead Plaintiff deadline.
If you acquired securities of Adeptus during the Company’s 2014 initial public offering, 2015 - 2016 secondary offerings, or otherwise purchased shares in the open market between June 22, 2014 and November 1, 2016 and suffered over $50,000 in losses, contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/ADPT
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On November 17, 2015, a Denver television station reported that certain Adeptus facilities routinely overbilled patients. This news drove the price of Adeptus shares down over 22% the same day.
Recently, on November 1, 2016, Adeptus reported extremely disappointing third quarter revenues and earnings. This news drove the price of Adeptus shares down nearly 68%.
Adeptus failed to disclose its alleged overbilling practice and instead issued shares to investors in initial and secondary public offerings that raised over $500 million in net proceeds.
“The SEC requires issuers to disclose known trends or uncertainties that reasonably could have a material negative impact on them,” said Hagens Berman partner Reed Kathrein. “Adeptus’ overbilling, if true, should have been disclosed.”
Whistleblowers: Persons with non-public information regarding Adeptus should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
