BOULDER, Colo., May 11, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating certain current and former officers and directors of Community Health Systems, Inc. ("CHS" or the "Company") (NYSE:CYH) for possible improprieties relating to Medicare billing and reimbursement practices.
According to a lawsuit filed by a former CHS employee, CHS's senior officers and directors allegedly put in place an arrangement with certain New Mexico counties whereby CHS offered the counties an unrestricted "donation" each year with the understanding that the money would be used towards New Mexico's Sole Community Provider Fund and Sole Community Hospital Supplemental Payments program. These "donations" were then given back to CHS' hospitals, along with a federal government match at a three-to-one rate. This scheme was an unlawful violation of federal Medicaid rules. CHS has also been implicated in a similar scheme at the Helena Regional Medical Center, a hospital that CHS owns and operates in Arkansas.
As a result of these acts, CHS has suffered significant losses and damages, including, but not limited to, costs and expenses incurred in connection the federal government's investigation and intervention in a qui tam suit currently pending against the Company.
If you currently own CHS 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 has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative litigation.
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