NEW YORK, Nov. 23, 2016 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Adeptus Health Inc. (“Adeptus” or the “Company”) (NYSE: ADPT ) and certain of its officers. This case is on behalf of shareholders who purchased or otherwise acquired shares pursuant and/or traceable to the Company’s secondary public offering (the “SPO”) on or about July 31, 2015, or purchasers of common shares between April 23, 2015 and November 16, 2015, inclusive (the “Class Period”).
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose: (1) that Adeptus engaged in an extensive predatory billing practice, predominantly in connection with lower acuity level patients; (2) that the Company’s predatory billing practices subjected the Company to several known and undisclosed risks, including financial risks, reputational risks, risks associated with improper financial reporting, civil or criminal sanctions, and exclusion from federal and state healthcare programs; (3) that Adeptus’ financial statements were inadequate with Generally Accepted Accounting Principles; (4) contrary to Adeptus’ statements about its practice of referring lower acuity patients to urgent care facilities, Adeptus regularly treated lower acuity patients and unreasonably billed for services; (5) consequently, Adeptus lacked a reasonable basis for its statements about its business and future financial prospects at all relevant times.
On November 17, 2015, a television station aired an investigative report about Adeptus Health’s predatory billing practices at Colorado First Choice emergency rooms. Once this information was made public, Adeptus stock dropped in value.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/adpt or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com . Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Adeptus you have until December 27, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
