HARTFORD, Conn., Nov. 9, 2005 (PRIMEZONE) -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Middle District of Tennessee on behalf of all persons who purchased the securities of HCA, Inc. (NYSE:HCA) between January 12, 2005 and July 12, 2005 (the "Class Period").
Schatz & Nobel, P.C. also has substantial experience representing employees who have suffered losses investing in their employer's stock through a company sponsored 401(k) plan. If you bought HCA stock through your HCA 401(k) plan and have information or would like to learn more about your rights as a plan participant, please contact us.
The Complaint alleges that HCA violated federal securities laws by issuing false or misleading public statements. On July 13, 2005, HCA issued a profit warning for the second quarter of 2005, disclosing adverse business trends which, according to the Complaint, were contrary to its previous positive statements and representations. Prior to this disclosure, the Complaint alleges that company insiders sold almost one million shares of HCA stock for more than $48 million in proceeds. After the disclosure, HCA stock fell from a close of $54.57 on July 12, 2005, to close at $49.74 on July 13, 2005.
If you are a member of the class, you may, no later than January 9, 2006, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz & Nobel has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com, or visit our Web site: www.snlaw.net.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.