Tenet Healthcare Corp. (NYSE: THC)
A class action has been filed in the United States District Court for the Central District of California on behalf of purchasers of Tenet Healthcare Corp. (NYSE: THC) common stock between February 28, 2012 and October 3, 2016 (the “Class Period”).
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) Tenet Healthcare illegally paid kickbacks to induce the referral of patients to the Company’s hospitals for labor and delivery; (2) through this, Tenet Healthcare defrauded the Georgia Medicaid program; and (3) as a result, the Company's statements about the its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.
Specifically, during aftermarket hours on August 1, 2016, the Company issued a press release announcing it had reached an agreement with the U.S. government to resolve a criminal investigation and civil litigation in connection with the aforementioned allegations.
On this news, Tenet Healthcare’s share price fell from $28.91 per share on August 1, 2016 to a closing price of $27.57 on August 2, 2016—a $1.34 or a 4.64% drop.
In addition, on October 3, 2016, the Company issued a press release announcing it had finalized an agreement with the U.S. government to resolve the aforementioned investigation and litigation.
On this news, Tenet Healthcare’s share price fell from $22.66 per share on September 30, 2016 to a closing price of $21.75 on October 3, 2016—a $0.91 or a 4.02% drop.
If you are a current shareholder and purchased stock between February 28, 2012 and October 3, 2016, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
Please Note: Neither the submission to nor the receipt of information by The Law Offices of Marc S. Henzel or one of its attorneys through this website constitutes an agreement by the firm to represent the individual and does not create an attorney-client relationship.