ReleaseWire

Laboratory Corp. of America Holdings (NYSE:LH) Investor Alert: Investigation over Possible Securities Laws Violations

An investigation for shareholders of Laboratory Corp. of America Holdings (NYSE:LH) over possible securities laws violations was announced and NYSE:LH stockholders should contact the Shareholders Foundation.

Posted: Wednesday, April 11, 2012 at 8:05 AM CDT

San Diego, CA -- (SBWire) -- 04/11/2012 --An investigation on behalf of investors in shares of Laboratory Corp. of America Holdings (NYSE:LH) over potential securities laws violations by certain officers and directors at Laboratory Corp. of America Holdings was announced.

Investors who purchased shares of Laboratory Corp. of America Holdings (NYSE:LH), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Laboratory Corp. of America Holdings (NYSE:LH) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements over Laboratory Corp. of America Holdings’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Laboratory Corp. of America Holdings reported that its annual Revenue rose from $4.5billion in 2008 to $5.54billio in 2011 and its Net Income increased from $464.50million in 2008 to $519.70million in 2011.

Since 2007 Laboratory Corp. of America Holdings received several subpoenas related to Medicaid billing. Laboratory Corp. of America Holdings received a subpoena from the United States Department of Health & Human Services Office of Inspector General's regional office in New York, from the Commonwealth of Virginia Office of the Attorney General, from the State of Michigan Department of Attorney General, from the United States Department of Health & Human Services Office of Inspector General's regional office in Massachusetts, and from the State of Florida Office of the Attorney General.

Shares of Laboratory Corp. of America Holdings (NYSE:LH) increased from as low as $55.01 per share in February 2009 to over $100 in May 2011.

In August 2011, the Southern District of New York unsealed a False Claims Act lawsuit, which alleges that Laboratory Corp. of America Holdings offered UnitedHealthcare Insurance Company kickbacks in the form of discounts in return for Medicare business.

On November 18, 2011, Laboratory Corp. of America Holdings received a letter from United States Senators Baucus and Grassley requesting information regarding the Company's relationships with its largest managed care customers. According to recent media report Laboratory Corp. of America Holdings is the only company out of five companies has not yet responded to the requests from the U.S. Senators.

NYSE:LH shares dropped from $94 per share on April 3, 2012 to $89.16 per share on April 10, 2012

Those who purchased shares of Laboratory Corp. of America Holdings (NYSE:LH), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com