BOULDER, Colo.--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Assisted Living Concepts, Inc. (“ALC” or the “Company”) (Nasdaq: ALC). ALC operates senior living residences in the United States.
The firm’s investigation concerns whether ALC overstated rental rates by improperly treating units leased to employees as bona fide residents in order to comply with minimum occupancy requirements imposed by its landlord for certain properties. The Company also publicly disclosed that the SEC was investigating, among other things, ALC's compliance with its occupancy covenants. The firm’s investigation also seeks information relating to the Company’s recently settled lawsuit brought by one of ALC’s landlords for $19.5 million and ongoing litigation between ALC and the Company’s former Chief Executive Officer.
If you currently own ALC common stock and are interested in discussing your rights as a shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.