An investigation for current long term investors in NASDAQ: LHCG shares over potential breaches of fiduciary duties by certain officer and directors at LHC Group, Inc. was announced and NASDAQ: LHCG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/02/2012 -- Certain directors and officers at LHC Group, Inc. are under investigation on behalf of investors in NASDAQ: LHCG shares over possible breaches of fiduciary duties in connection with a subpoena in connection with LHC Group’s Medicare Practice.
Investors who are a current (long term) stockholders of LHC Group, Inc. (NASDAQ: LHCG), 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 focuses on possible shareholder claims based on potential breaches of fiduciary duties. Specifically, the investigation concerns whether certain directors and officers at LHC Group, Inc. breached their fiduciary duties.
In May 2010, the LHC Group, Inc received a letter from the U.S. Senate Finance Committee in connection with a media report with the title“ Home Care Yields Medicare Bounty.” LHC Group said in June 2010 it completed its response to the Senate Finance Committee’s letter. Then in July 2010, LHC Group, Inc received a subpoena from the U.S. Securities and Exchange Commission (“SEC”) that included a request for documents related to LHC Group’s participation in the Medicare Home Health Prospective Payment System, as well as the documents and information produced in response to the Senate Finance Committee’s investigation. LHC Group said it produced the documents requested by the initial subpoena and produced additional documents requested by the SEC as part of its review.
In September 2011, LHC Group, Inc agreed to pay the U.S. $65 million to settle a qui tam action filed in 2007 regarding allegations that it committed Medicare fraud by providing medically unnecessary patient care, targeting a certain number of home therapy visits to trigger bonus payments.
In October 2011, LHC Group, Inc received a subpoena from the Department of Health and Human Services Office of Inspector General related to patients who received service from two of LHC Group’s locations in the State of Oregon and some additional documents related to it agencies in Oregon, Washington and Idaho.
NASDAQ: LHCG shares fell from over $30 in February 2011 to as low as $12.57 per share in January 2012.
On May 1, 2012 NASDAQ:LHCG stocks closed at $17.40 per share, significantly down from its current 52weeksHigh of $30.54 per share.
Those who are current long term investors in LHC Group, Inc. (NASDAQ: LHCG) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego