SAN DIEGO & SUNRISE, Fla.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Mednax, Inc. (NYSE: MD) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between February 4, 2016 and July 27, 2017. Mednax, Inc. is a health care administration business that acquires and administers physician practice groups.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/mednax-inc-md/
Mednax, Inc. Accused of Making Misleading Statements
According to the complaint, during the class period Mednax touted the sustainability of its business model, which depended upon growth from the acquisition of new practice groups, primarily in anesthesiology. The complaint alleges that in reality, the company's growth was based upon suppressing physician compensation and enforcing non-compete agreements to deter physician defections. On July 28, 2017, Mednax surprised the market when it announced it had not acquired any anesthesiology practice groups for that quarter and that the chance for acquiring any more was remote. On this news, Mednax's stock declined by over 15%.
Mednax Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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