A lawsuit was filed on behalf of investors in Molina Healthcare, Inc. (NYSE:MOH) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/15/2018 -- An investor, who purchased NYSE:MOH shares, filed a lawsuit over alleged violations of Federal Securities Laws by Molina Healthcare, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Molina Healthcare, Inc. (NYSE:MOH) have certain options and for certain investors are short and strict deadlines running. Deadline: June 29, 2018. NYSE:MOH investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between October 31, 2014 and August 2, 2017, Molina misled investors regarding the scalability of its existing administrative infrastructure, that Molina executives falsely claimed that the Company's existing administrative infrastructure could support rapid growth into existing Medicaid markets and new Patient Protection and Affordable Care Act health insurance marketplaces ("ACA Health Exchanges") in a cost-effective manner, and that Molina later admitted that its existing administrative infrastructure was built for a "much smaller, simpler business" and was "never" designed to support the Company's growth strategy.
On August 2, 2017, Molina Healthcare, Inc withdrew its 2017 earnings outlook and announced that it will eliminate 1,500 jobs, and exit certain Obamacare markets after the health insurer posted a steep second quarter loss. Shares of Molina Healthcare, Inc. (NYSE:MOH) declined to as low as $57.10 per share on August 11, 2017.
Those who purchased shares of Molina Healthcare, Inc. (NYSE:MOH) 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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