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SAN FRANCISCO, Jan. 09, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Universal Health Services, Inc. (NYSE:UHS) to the securities class action lawsuit filed in the U.S. District Court for the Central District of California and the February 21, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of UHS between February 26, 2015 and December 7, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/UHS
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On December 7, 2016, BuzzFeed published an article entitled “Intake” detailing its year-long investigation into Universal Health Services facilities that were allegedly maximizing profits through illegal practices. UHS allegedly failed to disclose in SEC filings that (1) it improperly admitted patients to its facilities based on its own financial needs rather than based on medical necessity; (2) it improperly kept patients admitted until insurance payments expired; and (3) it lacked sufficient internal controls over patient admissions practices and policies.
News of UHS’s allegedly improper actions drove the price of Company shares down approximately 12% that day to close at $111.36 per share. The Company has publicly denied the accusations made in the BuzzFeed article.
“We’re focused on the matters published by BuzzFeed and the ongoing Federal investigation into UHS, all in the context of UHS’ reported history of False Claims Act settlements,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding UHS 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
