NEW YORK, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Nobilis Health Corporation (“Nobilis” or the “Company”) (NYSEAMERICAN: HLTH). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Nobilis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 2, 2018, Nobilis reported reduced revenue for the second quarter of 2018, citing a $2.4 million adjustment to its accounts receivable. On this news, Nobilis’s stock price fell $0.20 per share, more than 17%, to close at $0.95 per share on August 2, 2018.
On November 9, 2018, Nobilis reported that it is “re-evaluating the Net Realizable Value on its Accounts Receivable and intends to make a significant adjustment to the carrying value of accounts receivable, primarily on out of network claims greater than 365 days old.” Accordingly, Nobilis filed for additional time to file its quarterly report on Form 10-Q for the period ended September 30, 2018 while the Company and its auditor completed their review of Nobilis’s financial statements. On this news, Nobilis’s stock price fell $0.18 per share, more than 25%, to close at $0.52 per share on November 12, 2018.
Then, on November 15, 2018, Nobilis announced that it had received notice from the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the NYSE’s continued listing requirements due to its failure to timely file its 10-Q. Following this news, Nobilis’s stock price fell $0.07 per share, more than 12%, to close at $0.48 per share on November 16, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 9980
