A lawsuit was filed on behalf of investors in Quorum Health Corp (NYSE:QHC) shares over alleged securities laws violations and NYSE:QHC investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/12/2016 -- An investor, who purchased shares of Quorum Health Corp (NYSE:QHC), filed a lawsuit in Tennessee over alleged violations of Federal Securities Laws by Quorum Health in connection with certain allegedly false and misleading statements
Investors who purchased Quorum Health Corp (NYSE:QHC) have certain options and for certain investors are short and strict deadlines running. Deadline: November 8, 2016. NYSE:QHC investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges on behalf of all persons other than Defendants who purchased or otherwise acquired Quorum Health Corp (NYSE:QHC) securities pursuant and/or traceable to Quorum Health's Registration Statement issued in connection with the Company's spinoff from Community Health Systems, Inc. ("CHS") effective on or about April 29, 2016 and/or on behalf of all persons other than Defendants who purchased or otherwise acquired Quorum Health Corp (NYSE:QHC) securities on the open market between May 2, 2016 and August 10, 2016, that the defendants violated Federal Securities Laws.
Quorum Health Corp was spun off from Community Health Systems, Inc effective April 29, 2016. ; Under the terms of the spin-off, Community Health Systems, Inc stockholders who held Community Health Systems, Inc common stock as of April 22, 2016, the record date, received a distribution of one share of Quorum Health Corp common stock for every four shares of CHS common stock, plus cash in lieu of any fractional shares. Community Health Systems, Inc's stockholders owned all of the outstanding common stock of Quorum Health Corp upon completion of the spinoff. ;
More specifically, the plaintiff claims that Defendants made allegedly false and/or misleading statements and/or failed to disclose that a number of Quorum's hospitals were underperforming at the time of the spin-off from Community Health Systems, Inc, that various other indicators of impairment existed at the time of Quorum's spin-off from Community Health Systems, Inc, that Quorum disregarded and/or failed to advise investors of the foregoing issues, and that as a result of the foregoing, Quorum's public statements were materially false and misleading at all relevant times. ;
Quorum Health Corp reported that its annual Total Revenue rose from over $2.14 billion in 2014 to over $2.18 billion in 2015 while its Net Income declined from $7.80 million to $1.34 million.
On May 11, 2016, Quorum Health Corp stated its 2016 guidance revenues ranging between $2.2 billion to $2.3 billion.
Then on August 10, 2016, Quorum Health Corp said it had a damage of $250.4 million during the quarter ending June 30, 2016 and then decreased its 2016 guidance revenues ranging $2.15 billion to $2.20 billion. Shares of Quorum Health Corp (NYSE:QHC) declined from $10.12 per share on August 10, 2016, to $4.12 per share on August 11, 2016.
On September 9, 2016, NYSE:QHC shares closed at $6.88 per share.
Those who purchased shares of Quorum Health Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego