LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Mednax, Inc. ("Mednax" or the "Company") (NYSE: MD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 4, 2016 and July 27, 2017, inclusive (the ''Class Period''), are encouraged to contact the firm before September 10, 2018.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Mednax’s business model relied on acquiring anesthesiology practice groups to drive growth. Because of this fact, that growth was not sustainable, and the Company’s growth was based on maintaining lower wages for physicians and practice staff, and rigidly enforcing non-compete agreements to discourage practice defections. Mednax announced as part of its second-quarter earnings call, on July 28, 2017, that the Company had not acquired any anesthesiologist practices in the quarter, and that it was unlikely the Company would acquire practices in the future. Based on these facts, the Company’s public statements about operations and future results were false and materially misleading throughout the class period. When the market learned the truth about Mednax, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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