A lawsuit was filed on behalf of investors in Community Health Systems (NYSE: CYH) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/12/2019 -- An investor, who purchased shares of Community Health Systems (NYSE: CYH), filed a lawsuit over alleged violations of Federal Securities Laws by Community Health Systems.
Investors who purchased shares of Community Health Systems (NYSE: CYH) have certain options and for certain investors are short and strict deadlines running. Deadline: July 29, 2019. NYSE: CYH investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On February 27, 2018, Community Health Systems reveled that its fourth quarter 2017 net operating revenues totaled $3.059 billion and were negatively impacted by a $591 million increase in contractual allowances and provision for bad debts. Shares of Community Health Systems (NYSE: CYH) declined from $62.8 per share on February 27, 2018 to as low as $2.66 per share in July 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of Community Health Systems (NYSE: CYH) common shares between February 20, 2017 and February 27, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 20, 2017 and February 27, 2018, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that the Company had understated its contractual allowances, that the Company had understated its provision for bad debts, that, as a result, the Company had overstated its net operating revenue, that, as a result, the Company had understated its net loss, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Community Health Systems (NYSE: CYH) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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