STEVENSON, Md.--(EON: Enhanced Online News)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Texas on behalf of purchasers of Adeptus Health Inc. (NYSE: ADPT) (Adeptus or the “Company”) shares pursuant and/or traceable to the Company’s secondary public offering (the “SPO”) on or about July 31, 2015, or purchasers of common shares between April 23, 2015 and November 16, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until December 27, 2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Adeptus. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the defendants’ failure to disclose in the Registration Statement and Prospectus issued in connection with the Company’s secondary public offering on or about July 31, 2015 and during the Class Period that the Company engaged in widespread predatory billing practices, particularly with respect to lower acuity level patients, which subjected the Company to numerous known but undisclosed risks, such as financial risks, reputational risks, risks associated with improper financial reporting, civil or criminal sanctions, and even exclusion from federal and state healthcare programs and that the Company’s financial statements were not prepared in conformity with Generally Accepted Accounting Principles.
According to the complaint, following a November 17, 2015 investigative report on the predatory billing practices, the value of Adeptus shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Adeptus during the SPO or Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.