LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit has been filed against Adeptus Health Inc. (“Adeptus Health” or the “Company”) (NYSE: ADPT) on behalf of purchasers of Adeptus Health securities 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 purchased or otherwise acquired shares during the SPO or the Class Period, are encouraged to contact the firm in advance of the December 27, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that Adeptus Health made material false and/or misleading information and/or failed to disclose: that the Company engaged in widespread predatory billing practices, particularly with respect to lower acuity level patients; that Adeptus Health’s predatory billing practices 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; that the Company’s financial statements were not prepared in conformity with Generally Accepted Accounting Principles; that contrary to the Company’s representations about its practice of referring lower acuity patients to urgent care facilities, Adeptus Health routinely treated lower acuity patients and excessively billed them for services; and that as a result of the above, Adeptus Health lacked a reasonable basis for its statements about its business and future financial prospects at all relevant times. On November 17, 2015, KUSA, an NBC-affiliated television station located in Denver, Colorado, aired an investigative report about the predatory billing practices at Adeptus Health’s Colorado First Choice emergency rooms. When this news was announced, shares of Adeptus Health fell in value, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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