An investigation on behalf of investors in Welltower Inc. (NYSE: WELL) shares over potential wrongdoing at Welltower Inc. was announced.
San Diego, CA -- (SBWIRE) -- 03/20/2023 -- An investigation was announced for investors in shares of Welltower Inc. (NYSE: WELL) over potential breaches of fiduciary duties by certain directors at Welltower Inc.
Investors who purchased shares of Welltower Inc. (NYSE: WELL) 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 concerns whether certain Welltower Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Toledo, OH Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. Welltower Inc. reported that its annual Total Revenue rose from over $4.6 billion in 2020 to over $4.74 million in 2021, and that its Net Loss declined from $987.84 million in 2020 to $336.13 million in 2021.
On Dec. 7, 2022, Hindenburg Research, a short seller, published a report stating, among other things, that Welltower Inc. transferred the management of underperforming facilities to Integra Health. The report further claims, "Despite the high praise from Welltower's management and claims of being well-experienced in skilled nursing, Integra seems to barely exist. The entity was registered 6 months ago, according to Delaware corporate records. Its website was registered on the same day. Integra's CEO, 29-year-old David Gefner, appears to have no background in the skilled nursing space at all. Integra has no employees on LinkedIn except for Gefner, who claims to have worked at the 6-month-old entity for 11 months."
Shares of Welltower Inc. (NYSE: WELL) declined from $71.73 per share on November 11, 2022, to as low as $62.62 per share on December 20, 2022.
Those who purchased shares of Welltower Inc. (NYSE: WELL) have certain options and should contact the Shareholders Foundation.
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