NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Medical Properties Trust, Inc. (“Medical Properties” or the “Company”) (NYSE: MPW) securities between May 23, 2023 and August 17, 2023, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
The Complaint alleges that Medical Properties made false or misleading statements and/or omitted material adverse information regarding the Company’s business, operations, and prospects, including: (1) the recapitalization transaction (the “Recap Transaction”) was subject to regulatory approval and had in fact been placed on hold by the Department of Managed Health Care of the Health and Human Services Agency of the State of California; (2) accordingly, Medical Properties had misrepresented the regulatory process for the Recap Transaction’s approval; and (3) as a result of the foregoing, Medical Properties overstated the approval prospects and benefits of the Recap Transaction.
Investors who purchased or otherwise acquired shares of Medical Properties should contact the Firm prior to the November 28, 2023 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish 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.
Please visit our website at http://www.gme-law.com for more information about the firm.
