Safirstein Metcalf LLP Announces That A Class Action Lawsuit Has Been Filed Against Tenet Healthcare Corp. - THC

NEW YORK, Nov. 18, 2016 -- Safirstein Metcalf LLP announces that a class action has been filed in the United States District Court for the Central District of California on behalf of purchasers of Tenet Healthcare Corp. ("Tenet") (NYSE:THC) securities between February 28, 2012 and October 3, 2016 (the "Class Period").

If you purchased Tenet securities during the class period, and would like more information about getting involved in the Tenet Securities Class Action, please contact Sheila Feerick at 1-800-221-0015, or email [email protected]

If you wish to serve as lead plaintiff, you must move the Court no later than December 6. 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The Complaint alleges that Tenet misrepresented and/or failed to disclose that it perpetrated an illegal conspiracy to defraud the United States government and to make illegal kickback payments for patient referrals to certain Tenet hospitals.  The conspiracy involved Hispanic Medical Management, d/b/a “Clinica de la Mama” (or “Clinica”), a Georgia corporation that operated clinics for pregnant Hispanic women, many of whom were undocumented. Clinica received over $12 million in kickbacks from some executives at Tenet hospitals for illegally referring its patients to the hospitals. The hospitals, in turn, improperly billed and received over $146 million in reimbursements from Medicaid and Medicare for services provided to the unlawfully referred patients.

On August 1, 2016, the Company issued a press release during aftermarket hours announcing that it reached an agreement in principle with the U.S. government to resolve the Clinica criminal investigation and civil litigation.

On this news, shares of the Company fell $1.34 per share or approximately 4% from its previous closing price to close at $27.57 per share on August 2, 2016.

On October 3, 2016, the Company issued a press release announcing that it finalized an agreement with the U.S. government to resolve the Clinica criminal investigation and civil litigation.

About Safirstein Metcalf LLP

Safirstein Metcalf LLP focuses it practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.

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