An investigation for investors in Premier, Inc. (NASDAQ: PINC) shares over potential securities laws violations by Premier, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/15/2019 -- An investigation was announced concerning potential securities laws violations by Premier, Inc. in connection with certain financial statements was announced.
Investors who purchased shares of Premier, Inc. (NASDAQ: PINC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Premier, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Charlotte, NC based Premier, Inc., together with its subsidiaries, operates as a healthcare improvement company in the United States. On September 25, 2019, a report was issued about Premier, Inc stating that "due to a unique pre-IPO restructuring agreement, [Premier] is temporarily generating twice the earnings which its business model can sustain organically." Noting that the contracts between Premier and its "member owner" hospitals were nearing expiration, the report asserted that "with most member owner equity now having vested, hospitals with expiring contracts are far less incented to remain with Premier at sub-market shareback rates" making them more likely to opt out rather than renew their contracts, which "would cause Premier to underperform FY22-23 consensus revenue by >26% and EBITDA by >50%."
Shares of Premier, Inc. (NASDAQ: PINC) declined to as low as $23.24 per share on October 8, 2019.
Those who purchased shares of Premier, Inc. (NASDAQ: PINC) have certain options and should contact the Shareholders Foundation.
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