Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of Community Health Systems, Inc. (“Community Health” or the “Company”) (NYSE: CYH) breached their fiduciary duties to the Company and its shareholders. If you are a Community Health shareholder, you are encouraged to contact Amber Eck at Haeggquist & Eck for additional information.
Community Health, through its subsidiaries, owns, leases, and operates acute care hospitals that are the principal providers of healthcare services in non-urban communities.
Haeggquist & Eck is investigating whether certain members of Community Health’s Board of Directors (the “Board”) made false and/or misleading statements, as well as failed to disclose material adverse facts, about Community Health’s business, operations, prospects, and financial health. Specifically, Haeggquist & Eck is investigating whether the Board failed to disclose material information, including whether: (1) Community Health had understated its contractual allowances; (2) Community Health had understated its provision for bad debts; (3) that as a result, Community Health had overstated its net operating revenue and understated its net loss; and (4) that as a result of the foregoing, positive statements about Community Health’s business, operations, and prospects were materially misleading.
On February 27, 2018, Community Health announced its fourth quarter and full year 2017 financial results, which included a $591 million increase in contractual allowances and bad debt provision. On this news, Community Health’s share price fell $1.06/share, more than 17%, to close at $5.12 per share on February 28, 2018.
What You Can Do
If you are a Community Health shareholder, you may have legal claims against its directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber Eck at 619-342-8000 or e-mail her at ambere@haelaw.com. There is no cost or obligation to you.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191031005171/en/
Contacts:
619-342-8000
Amber Eck, ambere@haelaw.com
