A lawsuit was filed by an investor in NASDAQ:LHCG shares against certain directors of LHC Group, Inc. (NASDAQ:LHCG) and current long-term NASDAQ:LHCG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2013 -- An investor in NASDAQ:LHCG shares filed a lawsuit over alleged breaches of fiduciary duties by certain LHC Group directors that caused damages to the company and its shareholders.
Investors who purchased shares of LHC Group, Inc. (NASDAQ:LHCG) in 2008 or earlier and currently hold any of those NASDAQ:LHCG shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554
The plaintiff claims that the defendants breached their fiduciary duties because they knew or should have known that LHC Group, Inc. charged Medicare for unnecessary therapy between 2006 and 2008. The plaintiff says that after an investigation by the United States Senate Finance Committee LHC Group, Inc agreed to a $65 million to settle allegations that it allegedly overbooked patients for unneeded therapy to squeeze more money from Medicare between 2006 and 2008. Furthermore, the plaintiff claims that shortly after the settlement the Senate Finance Committee issued a report “disclosing that the improper and illegal manipulation of the number of therapy visits provided to patients had continued even after the period covered by the settlement."
LHC Group, Inc currently faces a lawsuit that was filed in 2012 over alleged securities laws violations. According to that complaint the plaintiff alleges that the defendants allegedly failed to disclose that the reported growth in LHC Group's home-based healthcare segment between July 30, 2008 and October 26, 2011, was created, in large part, by LHC Group, Inc. engaging in a pattern of practice designed to achieve the most profitable number of therapy visits under the Medicare home health program, manipulating the number of patient visits, regardless of patient need, to maximize revenue.
On December 17, 2013, NASDAQ:LHCG shares closed at $23.76 per share.
Those who are current long-term stockholders of shares of LHC Group, Inc. have certain options and you should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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