BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the September 10, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased MEDNAX, Inc. (“Mednax” or the “Company”) (NYSE: MD) securities between February 4, 2016 to July 27, 2017, inclusive (the “Class Period”). Mednax investors have until September 10, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Mednax 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 firstname.lastname@example.org.
On April 20, 2017, Mednax announced poor financial results for the first quarter of 2017, including missed earnings. Mednax also reported that “[s]ame-unit revenue from net reimbursement-related factors is expected to decline by 0.6 percent for the first quarter of 2017, compared to the first quarter of 2016, driven by a 90 basis point payor mix shift to government payors that impacted same-unit pricing negatively by 150 basis points.” On this news, Mednax’s share price fell $5.39, or 8.1%, to close at $61.30 per share on April 20, 2017.
Then, on July 28, 2017, during its second quarter earnings call, Mednax announced that the Company had failed to complete acquisitions of anesthesiologist practices during the quarter and that any future anesthesiologist acquisitions were unlikely, citing the “challenging” payor mix combined with “continued . . . growth in compensation expense for nurse anesthetists.” On this news, Mednax’s share price fell $8.76 or 15.5%, to close at $47.73 per share on July 28, 2017, thereby further injuring investors.
If you purchased shares of Mednax during the Class Period you may move the Court no later than September 10, 2018 to ask the Court to appoint you as lead plaintiff. 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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