San Diego, CA -- (SBWIRE) -- 02/13/2012 -- The Shareholders Foundation announces that certain directors and officers of Chemed Corporation are under the investigation for current long term investors in Chemed Corp. (NYSE: CHE) shares over possible breaches of fiduciary duties.
Investors who are current long term investors in Chemed Corp. (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 for current long term investors in Chemed Corp. (NYSE: CHE) stocks follows a lawsuit filed earlier by shareholders who purchased their NYSE: CHE shares only between February 15, 2010 and November 16, 2011. However, the investigation on behalf of current long term investors in Chemed Corp. (NYSE: CHE), including investors in NYSE:CHE who purchased their shares either prior to February or between the time frame stated above, concerns whether certain Chemed officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of Ohio the plaintiff alleges that Chemed Corporation 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 (Public, NYSE:CHE) fell from $57.52 on Nov. 15, 2011 to as low as $48.43 on November 16, 2011 and closed on Friday, Nov. 18 at $49.77 per share.
Those who are current long term investors in Chemed Corp. (NYSE:CHE) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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