BIRMINGHAM, Ala., June 17, 2013 (GLOBE NEWSWIRE) -- Burke, Harvey & Frankowski, LLC ("BHF") announces the commencement of an investigation into Chemed Corp., ("Chemed" or the "Company") to determine whether the Company's Officers and Directors violated state and federal law in connection with Medicare reimbursement.
Chemed is a company that owns and operates hospice units through its subsidiary Vitas. On May 2, 2013, the U.S. Department of Justice (the "DOJ") filed a lawsuit which alleges that Chemed and Vitas knowingly submitted claims to Medicare for reimbursement for services that were not necessary, not performed, or were not performed in compliance with Medicare guidelines in violation of the False Claims Act. The DOJ's complaint alleges that Chemed's false claims to Medicare cost U.S. taxpayers tens of millions of dollars. When the news of the DOJ's lawsuit became public, Chemed's stock price dropped dramatically, erasing millions of dollars of shareholder equity. We are investigating whether the Officers and Directors of Chemed issued false statements to shareholders or otherwise breached their fiduciary duties owed to the Company and its shareholders by allowing or failing to prevent the actions which gave rise to the DOJ's lawsuit.
What You Can Do
If you are a long term Chemed Corp. shareholder, you may have legal claims against Chemed's Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Richard Frankowski via email at rfrankowski@bhflegal.com or via toll-free telephone at (888) 930-9091. There is no cost to you.
About Burke, Harvey & Frankowski LLC
Burke Harvey & Frankowski, LLC, is a Birmingham, Alabama law firm that among other things dedicates its practice to the representation of shareholders and investors in litigation, including shareholder class actions, derivative litigation and FINRA arbitrations. More information about the firm is available through its website, www.bhflegal.com and upon request from the firm. Burke Harvey & Frankowski, LLC has paid for the dissemination of this promotional communication and is responsible for its content.
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