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Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Healthcare Services Group, Inc.

Nachrichtenquelle: Business Wire (engl.)
26.04.2019, 00:16  |  510   |   |   

Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May 21, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Healthcare Services Group, Inc. (“Healthcare Services” or the “Company”) (NASDAQ: HCSG) investors who purchased securities between April 11, 2017 and March 4, 2019, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On March 4, 2019, the Company disclosed that the Securities and Exchange Commission (“SEC”) had sent a letter in November 2017 and a subpoena in March 2018 regarding the Company’s earnings per share calculation practices. Additionally, during the fourth quarter of 2018, the Company began an internal investigation into the matters related to the SEC subpoena. As a result, the Company would not be able to timely file its annual report for the period ended December 31, 2018. On this news, the Company’s share price fell $4.96 per share, or over 13%, to close at $32.78 per share on March 4, 2019, thereby injuring investors.

The Complaint filed in this class action alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (a) defendant either knew or was reckless in not knowing that the Company had been accused of strategically rounding quarterly earnings per share, and therefore investors could not rely upon the Company's track record without conducting a thorough investigation into the allegations; (b) Defendants concealed that the SEC had written to the Company in November 2017 to inquire into the Company's earnings per share rounding practices; and (c) the Company concealed that the SEC delivered a subpoena to the Company in March 2018 demanding the Company produce documents in connection with how it calculated earnings per share.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Healthcare Services securities during the Class Period you may move the Court no later than May 21, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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