BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Adeptus Health Inc. (“Adeptus Health” or the “Company”) (NYSE: ADPT) securities pursuant and/or traceable to the Company's secondary public offering (the "SPO") on or about July 31, 2015, or between April 23, 2015 and November 16, 2015, inclusive (the “Class Period”). Adeptus investors have until December 27, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Adeptus investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose: (1) that Adeptus engaged in an extensive predatory billing practice, predominantly in connection with lower acuity level patients; (2) that the Company's predatory billing practices subjected the Company to several known and undisclosed risks, including financial risks, reputational risks, risks associated with improper financial reporting, civil or criminal sanctions, and exclusion from federal and state healthcare programs; (3) that Adeptus' financial statements were inadequate with Generally Accepted Accounting Principles; (4) contrary to Adeptus' statements about its practice of referring lower acuity patients to urgent care facilities, Adeptus regularly treated lower acuity patients and unreasonably billed for services; (5) consequently, Adeptus lacked a reasonable basis for its statements about its business and future financial prospects at all relevant times. The complaint further alleges that upon disclosure of the predatory billing practices at the Company’s emergency room facilities Adeptus shares dropped sharply in value.
If you purchased shares of Adeptus pursuant to the SPO or during the Class Period you may move the Court no later than December 27, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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