An investigation for current long-term investors in shares of Chemed Corporation (NYSE:CHE) over potential wrongdoing by certain officers and directors was announced and NYSE:CHE stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 06/05/2013 -- An investigation on behalf of investors, who purchased shares of Chemed Corporation (NYSE:CHE), is currently pending concerning whether Chemed Corporation possibly violated securities laws in connection with certain statements.
Investors who are current long-term stockholder of shares of Chemed Corporation (NYSE:CHE) 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 concerns potential securities claims against Chemed Corporation resulting from allegations that Chemed's Vitas hospice business reportedly knowingly overbilled the Medicare program.
Vitas is the largest for-profit hospice care chain in the United States. It was acquired by Chemed Corporation in 2004.
On May 2, 2013, the U.S. Department of Justice (“DOJ”) announced that a lawsuit was filed against Chemed Corporation and various wholly owned hospice subsidiaries, including Vitas Hospice Services LLC and Vitas Healthcare Corporation, alleging false Medicare billings for hospice services. More specifically, the complaint by the DOJ alleges, among other things, that Chemed and Vitas allegedly knowingly submitted, or caused the submission of, false claims to Medicare for crisis care services that were not necessary, not actually provided, or not performed in accordance with Medicare requirements.
Shares of Chemed Corporation dropped from almost $82 per share on May 2, 2013 to almost $62 per share on May 3, 2013.
On June 4, 2013, NYSE:CHE shares closed at $70.49 per share.
Those who purchased shares of Chemed Corporation (NYSE:CHE), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego