Nobilis Sues Anson Funds and Anson Analyst Sunny Puri for $300 Million

HOUSTON, TX--(Marketwired - Nov 5, 2015) - Nobilis Health Corp. (NYSE MKT: HLTH) (TSX: NHC) ("Nobilis" or the "Company") announced today that it has filed suit in the Ontario Superior Court of Justice against Sunny Puri, Anson Canada, Anson LP, Anson Capital, Anson Investment Fund, and Anson Catalyst Fund, along with John Does 1 through 20. The claim alleges that these individuals perpetrated a scheme to damage Nobilis' reputation and business relationships in order to profit through short-selling of Nobilis stock. Nobilis is seeking monetary damages in excess of $300,000,000 along with punitive damages. Nobilis expects to add more Anson affiliates and other participants in the scheme as defendants.

The complaint specifically alleges that the Anson family of hedge funds and associated-individuals devised and participated in a "short attack" scheme against the Plaintiff, Nobilis Health Corp., in which the defendants broadcast false and defamatory information about Nobilis in order to drive down the price of Nobilis' publicly traded stock (the "Nobilis Common Stock") so that the defendants could profit from short positions they had taken in Nobilis Common Stock and derivative securities thereof. The key to the scheme was the written attack (the "Article") on Nobilis' business which the defendants prepared and anonymously posted under the pseudonym "The Emperor Has No Clothes" to the website "Seeking Alpha" (www.seekingalpha.com) ("Seeking Alpha"). The Article made numerous statements of purported "fact" about Nobilis' business that were false and defamatory, including allegations that the Company's auditors resigned amid controversy (untrue), CFOs had been shuffled to hide impropriety (untrue), insiders had sold all of their Nobilis Common Stock (untrue), that the Company was hiding poor performance behind acquisitions (untrue), that major insurers would not pay for certain medical procedures billed by Nobilis (untrue), and several other false, defamatory and misleading statements.

Nobilis Common Stock traded at $6.81 at the open of trading on Toronto Stock Exchange on October 9, 2015 -- the day the Article was broadcast. At close that day the price was $4.93. Over the next two weeks Nobilis Common Stock continued trading downward to a low of $2.83, a drop of approximately 60% from price at the open of trading on October 9, 2015. That decline translates to a loss of over $300,000,000 million in market capitalization.