A Deadline is coming up on February 21, 2017 in the lawsuit for investors in Universal Health Services, Inc. (NYSE:UHS) and NYSE:UHS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/13/2017 -- The Shareholders Foundation announces that a deadline is coming up on February 21, 2017 in the lawsuit filed for investors of Universal Health Services, Inc. (NYSE:UHS) over alleged securities laws violations by Universal Health Services, Inc.
Investors who purchased shares of Universal Health Services, Inc. (NYSE:UHS) have certain options and there are strict and short deadlines running. Deadline: February 21, 2017. NYSE:UHS stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of certain purchasers of Universal Health Services, Inc. (NYSE:UHS) common, that the defendants made false and/or misleading statements and/or failed to disclose that Universal Health admitted patients based on its own financial considerations and not upon the medical necessity of the patient, that Universal Health would keep patients admitted until their insurance payments ran out in order to ensure the maximum payment for its services, that as a result, Universal Health's revenues from inpatient care relied on unsustainable practices, that in turn, Universal Health lacked effective internal control concerning its practices and policies of admitting patients, and that as a result, Universal Health's public statements were materially false and misleading at all relevant times.
On December 7, 2016, a report was published detailing its investigation into Universal Health, which was "…based on interviews with 175 current and former UHS staff, including 18 executives who ran UHS hospitals; more than 120 additional interviews with patients, government investigators, and other experts; and a cache of internal documents." The report stated that "[c]urrent and former employees from at least 10 UHS hospitals in nine states said they were under pressure to fill beds by almost any method – which sometimes meant exaggerating people's symptoms or twisting their words to make them seem suicidal – and to hold them until their insurance payments ran out."
On December 8, 2016, Universal Health Services, Inc published a statement regarding the report and said that it disputes and denies the conclusions in the report.
Shares of Universal Health Services, Inc. (NYSE:UHS) declined from $127.94 per share on December 7, 2016 to as low as $99.72 per share on December 14, 2016.
Those who purchased shares of Universal Health Services, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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