SAN DIEGO, Nov. 14, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Texas on behalf of certain purchasers of shares of Adeptus Health Inc (NYSE:ADPT) over alleged Securities Laws Violations by Adeptus Health Inc. The lawsuit seeks to recover damages for certain NYSE:ADPT investors.
Investors who purchased shares of Adeptus Health Inc (NYSE:ADPT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants misrepresented and failed to disclose material adverse facts regarding the Company's business and prospects, which were known to defendants or recklessly disregarded by them, including that Adeptus Health had been engaging in widespread predatory billing practices, particularly with respect to lower acuity level patients, that Adeptus Health's predatory billing practices subjected the Company to numerous known, but undisclosed, risks, including monetary risks, reputational risks, risks associated with improper financial reporting, civil or criminal sanctions, and even exclusion from federal and state healthcare programs, that the Company's financial statements had not been prepared in conformity with generally accepted accounting principles, that contrary to defendants' representations about the Company's practice of referring lower acuity patients to urgent care facilities, Adeptus Health routinely treated lower acuity patients and excessively billed them for the services it rendered, and that as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about Adeptus Health's then-current business and future financial prospects.
On November 17, 2015, KUSA, an NBC-affiliated television station located in Denver, Colorado, aired a 9WANTS To Know investigative report about the billing practices at Adeptus Health's Colorado First Choice emergency rooms ("ERs"). According to the report, which had been based on "months" of investigation, the Company's First Choice ERs engaged in a pattern and practice of predatory overbilling.
Those who purchased Adeptus Health Inc (NYSE:ADPT) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.