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NEW ORLEANS, La., Nov. 12, 2016 -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Tenet Healthcare Corp. (NYSE:THC).
On October 3, 2016, the U.S. Department of Justice announced that Tenet and two of its hospitals have agreed to pay more than $513 million and enter guilty pleas to resolve criminal and civil claims accusing the companies of conspiring to defraud the government concerning payments of kickbacks to clinics for referrals of pregnant immigrants, who would falsely be told that Medicaid would cover the cost of childbirth and newborn care only if they delivered at a Tenet hospital.
Under the pleas, the subsidiaries will forfeit $145 million, which is the amount the hospitals netted from Medicare and Medicaid for services provided to patients referred as part of the scheme. Tenet will pay $368 million to settle alleged False Claims Act violations in a whistleblower lawsuit, with the U.S. getting $244 million and the state of Georgia getting most of the remainder.
Then, Tenet and certain of its executives were sued in a securities class action lawsuit, which charged them with failing to disclose material information to shareholders, violating federal securities laws.
KSF’s investigation is focusing on whether Tenet’s officers and/or directors breached their fiduciary duties to Tenet’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Tenet shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]).
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.
Contact: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner [email protected] 1-877-515-1850 206 Covington St. Madisonville, LA 70447
