An investigation for investors in shares of Chemed Corporation (NYSE:CHE) over potential wrongdoing by certain officers and directors was announced and current long-term NYSE:CHE stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 09/10/2013 -- An investigation on behalf of investors in shares of Chemed Corporation (NYSE:CHE) was announced concerning whether certain Chemed officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of Chemed Corporation (NYSE:CHE) in the 2010 or earlier and currently hold any of those NYSE:CHE shares, 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, among other things, whether certain Chemed officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.
Chemed Corporation reported that its annual Total Revenue rose from over $1.19 billion in 2009 to over $1.43 billion in 2012 and that its Net Income increased from $73.78 million in 2009 to $89.30 million in 2012.
On April 18, 2013, Chemed Corporation reported its first quarter 2013 results. Chemed reported first quarter 2013 revenue of $366.64 million with a first quarter 2013 Net income of $22.28 million
Shares of Chemed Corporation (NYSE:CHE) grew from $35.30 per share in March 2009 to as high as $81.79 per share in May 2, 2013.
Then on May. 3, 2013, Chemed Corporation announced the receipt of a false claims action complaint. Chemed Corporation said that on May 2, 2013, the government filed a False Claims Act complaint against the Company and certain of its hospice-related subsidiaries in the Western District of Missouri, Chemed Corporation said the complaint alleges that, since at least 2002, Vitas, and since 2004, the Company, submitted or caused the submission of false claims to the Medicare program by billing Medicare for crisis care services when the patients were not eligible, the services were not provided, or the medical care was inappropriate, and by admitting patients who were not eligible for the Medicare hospice benefit because they did not have a life expectancy of six months or less if their illnesses ran their normal course. The complaint seeks treble damages, statutory penalties, and the costs of the action, plus interest.
Shares of Chemed Corporation declined from almost $82 on May 2, 2013 to $63.90 on May 10, 2013.
On September 9, 2013, NYSE:CHE shares closed at $68.60 per share.
Those who are current long term stockholders of 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
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