An investigation on behalf of former employees of Chemed Corporation (NYSE: CHE), who are current or former participants in the Chemed Employee Stock Ownership Plan, concerning potential breaches of fiduciary duties is ongoing and employees of Chemed Corporation should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 09/23/2013 -- An investigation on behalf of former employees of Chemed Corporation (NYSE: CHE), who are current or former participants in the Chemed Employee Stock Ownership Plan, is ongoing concerning potential Breaches of Fiduciary Duties.
Former employees of Chemed Corporation (NYSE: CHE), who are current or former participants in the Chemed Employee Stock Ownership Plan, have certain options and should contact the Shareholders Foundation, Inc. at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the investigation by a law firm under ERISA employees of Chemed Corporation, who is a current or former participant in the Chemed Employee Stock Ownership Plan, may be eligible to file a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them.
In January 2012 a lawsuit was filed by an investor against Chemed Corporation (NYSE: CHE). The plaintiff alleged that Chemed Corporation, that operates in two segments: VITAS and Roto-Rooter, and certain of its officers and directors with violations of the Securities Exchange Act of 1934. More specifically, the plaintiff claimed that defendants allegedly misrepresented and/or failed to disclose that , among other things, the Company engaged in a scheme to fraudulently bill Medicare for hospice services for patients who did not qualify for hospice and fraudulently shifted the costs of those patients from health maintenance organizations that covered those patients prior to enrollment in hospice to the U.S. government, that a significant portion of the Company’s hospice enrollments, revenues and earnings were the direct result of defendants’ scheme to enroll ineligible patients in hospice and fraudulently bill Medicare for hospice services, that the Company failed to maintain adequate internal controls and procedures with respect to hospice enrollments and Medicare billings, that the Company’s financial results were materially overstated as a result of defendants’ fraudulent scheme to enroll ineligible patients in hospice.
In November 2011 an article disclosed that a former VITAS manager had accused Chemed of defrauding the federal government by conspiring with health insurers to enroll Medicare patients who were not dying into hospice. The article also discussed a U.S. Department of Justice investigation into fraudulent conduct by VITAS. In May. 2013 Chemed Corporation announced the receipt of a false claims action complaint. Chemed Corporation said that the government filed a False Claims Act complaint against the Company and certain of its hospice-related subsidiaries.
Those who are former employees of Chemed Corporation, who are current or former participants in the Chemed Corporation Employee Stock Ownership Plan, 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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