San Diego, CA -- (SBWIRE) -- 02/22/2012 -- A deadline is coming up on March 12, 2012 in the lawsuit filed for investor of Chemed Corp. (NYSE: CHE) against Chemed Corp over alleged Securities Laws Violations.
Investors with a substantial investment in NYSE: CHE shares between February 15, 2010 and November 16, 2011have certain options and there are strict and short deadlines running. Deadline: March 12, 2012. Chemed Corp. (NYSE: CHE) stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of Ohio the plaintiff alleges on behalf of purchasers of Chemed Corp. (NYSE: CHE) common stock during the period between February 15, 2010 and November 16, 2011, that Chemed Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company's business and prospects.
On November 16, 2011, a media outlet reported that Vitas Healthcare Corp., a unit of Chemed Corp., has been accused by a whistleblower in lawsuit of a medicare HMO conspiracy. Additionally, the Department of Justice (“DOJ”) reportedly is seeking internal Vitas Healthcare Corp documents in an investigation focused on alleged abuses of Federal health-insurance programs. According to the article “the government has told the court it suspects Vitas of ‘an extensive scheme’ to defraud Medicare and Medicaid of ‘hundreds of millions of dollars’ by falsifying records and hospice certifications.”
Following the report shares of Chemed Corporation (NYSE:CHE) fell from $57.52 on Nov. 15, 2011 to as low as $48.43 on November 16, 2011 and to as low as $48..24 on December 13, 2011
Since then NYSE:CHE shares have regained value and closed on February 17, 2012 as high as $62.60 per share.
Those who purchased shares of Chemed Corp. (NYSE: CHE) between February 15, 2010 and November 16, 2011, may have certain options and there are strict and short Deadlines running. Deadline: March 12, 2012. NYSE CHE stockholders should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego