NEW YORK, Oct. 10, 2016 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Tenet Healthcare Corp. (“Tenet Healthcare”) (NYSE:THC) in the United States District Court for the Central District of California on behalf of purchasers of common stock of Tenet Healthcare Corp between February 28, 2012 and October 3, 2016, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”).
The complaint alleges that throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Tenet illegally paid kickbacks to induce the referral of patients to Tenet’s hospitals for labor and delivery; (2) through this scheme, Tenet defrauded the Georgia Medicaid program; and (3) as a result, defendants’ statements about Tenet’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered a monetary loss.
If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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