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NEW ORLEANS, Feb. 3, 2012 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 26, 2012 to file lead plaintiff applications in a securities class action lawsuit against Health Management Associates, Inc. ("HMA" or the "Company") (NYSE:HMA), if they purchased the Company's common stock during the period between July 23, 2009 and January 9, 2012, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the Middle District of Florida.
What You May Do
If you purchased shares of HMA and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by March 26, 2012. 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.
About the Lawsuit
HMA and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of Section 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder.
In contrast to the positive statements published by the Company regarding its performance and operations, on August 3, 2011, it was revealed that the U.S. Department of Health and Human Services issued a subpoena demanding information related to HMA's physician referrals and ownership of the Company's whole-hospital physician joint ventures, among other things. On this news, shares of HMA common stock fell by $0.80, to close at $7.97 per share. Later, however, on January 9, 2012, it was also reported that HMA's former compliance director, Paul Meyer, filed a lawsuit against the Company for violation of Florida's Private Sector Whistleblower's Act related to his wrongful termination. Mr. Meyer was a thirty-year veteran of the FBI, Healthcare Fraud Unit, in Miami. Following this disclosure, shares of the Company fell again, to close at $6.96 per share
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 class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner, 877-515-1850
or after hours via cell phone 504-301-7900
lewis.kahn@ksfcounsel.com
206 Covington St.
Madisonville, LA 70447
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Related Keywords: CLASS ACTION LAWSUITSCommunications, Cell phone, USA, Inc., , healthcare, Surgery, Physician, Financial, Communications Technology, Medical, Judicial, Other, Medical Professionals,
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