Cases
Universal Health Services Inc. (NYSE: UHS)
Securities Class Action
Overview
Overview
- Date:
- 12/28/2016
- Company Name:
- Universal Health Services, Inc.
- Stock Symbol:
- UHS
- Class Period:
- FROM 2/26/2015 TO 12/7/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Central California
NEW YORK, December 28, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Central District Court on behalf of all persons or entities who acquired the Universal Health Services Inc. (NYSE: UHS) securities between February 26, 2015 to December 7, 2016 (the “Class Period”).
The Complaint alleges that defendants made false and/or misleading statements regarding that: (1) the Company admitted patients based on its own financial considerations and not upon the medical necessity of the patient; (2) the Company would keep patients admitted until their insurance payments ran out in order to ensure the maximum payment for its services; (3) as a result, Universal Health's revenues from inpatient care relied on unsustainable practices; (4) in turn, Universal Health lacked effective internal control concerning its practices and policies of admitting patients; and (5) as a result, Universal Health's public statements were materially false and misleading. On December 7, 2016, Buzzfeed published a piece on Universal Health, alleging that the company puts profits ahead of its patients.
On this news, Universal Health shares fell by $15.01 per share on December 7, 2016.
If you acquired Universal Health securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that defendants made false and/or misleading statements regarding that: (1) the Company admitted patients based on its own financial considerations and not upon the medical necessity of the patient; (2) the Company would keep patients admitted until their insurance payments ran out in order to ensure the maximum payment for its services; (3) as a result, Universal Health's revenues from inpatient care relied on unsustainable practices; (4) in turn, Universal Health lacked effective internal control concerning its practices and policies of admitting patients; and (5) as a result, Universal Health's public statements were materially false and misleading. On December 7, 2016, Buzzfeed published a piece on Universal Health, alleging that the company puts profits ahead of its patients.
On this news, Universal Health shares fell by $15.01 per share on December 7, 2016.
If you acquired Universal Health securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.