BOULDER, Colo., June 23, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating Skilled Healthcare Group, Inc. ("SKH" or the "Company") (NYSE:SKH) relating to its issuance of false financial statements from January 1, 2006 through March 31, 2009.
Shares of SKH common stock fell to $7.46 per share on June 10, 2009 after the Company announced that it would restate more than three years of financial results, and cut its annual profit forecast because of the restatement costs. SKH announced that it expects to take a charge of $8 million to $9 million, or about 6 cents per share, because it understated its accounts receivables. The Company press release blamed a former employee for improperly dating accounts receivables between 2006 and March 31 of 2009. The Company also announced that it has initiated a special investigation with respect to the areas in which the former employee was involved, as well as a review of what steps, if any, may be appropriate to ensure future compliance with the Company's accounting policies and practices relating to accounts receivable reserves.
If you suffered a loss in SKH common stock and would like a free consultation concerning your rights and interests, please contact Kip Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative litigation.
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