The firm is investigating potential claims against the board of directors of IPC The Hospitalist Company, Inc. (NYSE: IPCM) concerning whether the board has breached its fiduciary duties to shareholders or violated the federal securities laws.
IPC The Hospitalist Company, Inc. (NYSE: IPCM), a Delaware corporation, coordinates the care of hospitalized patients and serves as the inpatient partner of primary care physicians and specialists. The company was formerly known as InPatient Consultants Management, Inc. The company was founded in 1995 and is headquartered in North Hollywood, California.
On June 7, 2010, the Department of Justice, U.S. Attorney’s Office for Northern District of Illinois, issued a civil investigative demand to the company, requesting information concerning claims the company had submitted to Medicare and Medicaid. On July 28, 2011, the company disclosed that a qui tam action had been filed against it. On December 5, 2013, the qui tam action was unsealed and the federal government announced that it was intervening in the action.
The qui tam action alleges that IPC encouraged its physicians to bill at the highest levels regardless of the level of service provided, trained physicians to use higher level codes to maximize billing, and that it pressured physicians with lower billing levels to catch up to their peers.
If you are aware of any facts relating to this investigation, or are a current shareholder since June 2010 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
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