NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Middle District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired Envision Healthcare Corporation (NYSE:EVHC) securities between March 2, 2015 and July 21, 2017 (the “Class Period”). Investors have until October 3, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On July 24, 2017, The New York Times reported that physicians associated with a subsidiary of Envision, EmCare Holdings, Inc., were disproportionately likely to engage in "surprise billing," which occurs when patients go to in-network hospitals, but are treated by out-of-network doctors and then billed at higher rates. Following this news, EVHC fell $2.33 per share on July 24, 2017, or over 3.7%, to close at $60.28 per share.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) EmCare routinely arranged for patients who sought treatment at in-network facilities to be treated by out of-network physicians; (ii) EmCare accordingly billed these patients at higher rates than if the patients had received treatment from in-network physicians; (iii) the Company’s statements attributing EmCare’s Class Period growth to other factors were therefore false and/or misleading; (iv) Envision’s EmCare revenues were likely to be unsustainable after the foregoing conduct came to light; and (v) as a result of the foregoing, Envision’s public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Envision Healthcare securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Envision Healthcare lawsuit, please go to http://www.bespc.com/EVHC. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.