San Diego, CA -- (SBWIRE) -- 11/30/2016 -- An investigation on behalf of investors, who purchased Adeptus Health Inc. (NYSE:ADPT) shares in or shortly after the initial public offering in June 2014, was announced concerning potential securities laws violations in connection certain financial statements.
Investors who purchased Adeptus Health Inc. (NYSE:ADPT) shares in or shortly after the initial public offering in June 2014 have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements regarding the initial public offering in June 2014 were materially false and misleading at the time they were made.
In November 2015, KUSA, an NBC-affiliated television station located in Denver, Colorado, aired a 9WANTS To Know investigative report about the billing practices at Adeptus Health's Colorado First Choice emergency rooms ("ERs"). According to the report, which had been based on "months" of investigation, the Company's First Choice ERs engaged in a pattern and practice of predatory overbilling.
In October 2016 a lawsuit was filed against Adeptus Health Inc (NYSE:ADPT) Over alleged Securities Laws violations. The plaintiff claims that the defendants misrepresented and failed to disclose material adverse facts regarding the Company's business and prospects, which were known to defendants or recklessly disregarded by them, including thatAdeptus Health had been engaging in widespread predatory billing practices, particularly with respect to lower acuity level patients, that Adeptus Health's predatory billing practices subjected the Company to numerous known, but undisclosed, risks, including monetary risks, reputational risks, risks associated with improper financial reporting, civil or criminal sanctions, and even exclusion from federal and state healthcare programs, that the Company's financial statements had not been prepared in conformity with generally accepted accounting principles, that contrary to defendants' representations about the Company's practice of referring lower acuity patients to urgent care facilities, Adeptus Health routinely treated lower acuity patients and excessively billed them for the services it rendered, and that as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about Adeptus Health's then-current business and future financial prospects.
Those who purchased Adeptus Health Inc. shares in or shortly after the initial public offering in June 2014 have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego