NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Brookdale Senior Living Inc. (NYSE: BKD).
In mid-April of 2020, class action litigation was filed against the Company on behalf of a putative class of elderly and disabled residents from nearly 56 facilities “to redress systemic unfair and deceptive trade practices and breaches of contract,” alleging that it “engaged in a scheme of understaffing and cover-up through misrepresentations, misleading statements, omissions and concealment of material facts, and the inherently flawed and deceptive staffing practices” from April 2016 to 2020. On April 30, 2020, the Nashville Business Journal issued a report exposing the “lucrative bonus and incentive programs tied to meeting or exceeding Brookdale’s financial performance targets” done in order to induce employees to “stay at or below Brookdale’s limits for staffing expenses.”
Thereafter, the Company and certain of its executives were also sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Brookdale’s officers and/or directors breached their fiduciary duties to Brookdale’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Brookdale shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-bkd/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.