A lawsuit was filed on behalf of investors in MEDNAX, Inc. (NYSE: MD) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 07/25/2018 -- An investor, who purchased NYSE: MD shares , filed a lawsuit over alleged violations of Federal Securities Laws by MEDNAX, Inc.
Investors who purchased shares of MEDNAX, Inc. (NYSE: MD) have certain options and for certain investors are short and strict deadlines running. Deadline: September 10, 2018. NYSE: MD investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between February 4, 2016 to July 27, 2017, Mednax's business model depended upon growth from the acquisition of new practice groups, primarily in anesthesiology, and that in truth, Mednax's business model is not sustainable and its growth was based upon suppressing physician compensation and enforcing non-compete agreements to deter physician defections.
Sunrise, FL based MEDNAX, Inc., together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology, pediatric cardiology, and other pediatric subspecialties physician services in the United States and Puerto Rico.
On February 7, 2017, MEDNAX, Inc reported its fourth quarter results for 2016 and issued its 2017 first quarter outlook. MEDNAX, Inc. reported that its annual Total Revenue rose from over $2.77 billion in 2015 to over $3.18 billion in 2016 and that its Net Income declined from $336.32 million in 2015 to $324.91 million in 2016.
On April 20, 2017, Mednax announced its preliminary financial and operating results for its 2017 first quarter. MEDNAX, Inc reported negative financial results for the first quarter of 2017.
Then on July 28, 2017, during an earnings call, MEDNAX, Inc announced that the Company failed to complete any acquisitions of anesthesiologist practices during the second quarter and disclosed that any future acquisitions were unlikely.
Shares of MEDNAX, Inc. (NYSE: MD) declined from over $72 per share in early 2017 to as low as $41.35 per share in August 2017.
On February 8, 2018, MEDNAX, Inc announced its fourth quarter 2017 results and issued its 2018 first quarter outlook. MEDNAX, Inc. reported that its annual Total Revenue rose from over $3.18 billion in 2016 to over $3.45 billion in 2017 and that its Net Income declined from $324.91 million in 2016 to $320.37 million in 2017.
Those who purchased shares of MEDNAX, Inc. (NYSE: MD) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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