Bragar Eagel & Squire, P.C. is Investigating Premier, Inc. (NASDAQ:PINC) on Behalf of Premier Stockholders and Encourages Premier Investors to Contact the Firm
NEW YORK--(BUSINESS WIRE)--Oct 10, 2019--
Bragar Eagel & Squire, P.C. is investigating potential claims against Premier, Inc. (NASDAQ:PINC) on behalf of Premier stockholders. Our investigation concerns whether Premier has violated the federal securities laws and/or engaged in other unlawful business practices.
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On September 25, 2019, Spruce Point Capital Management, LLC (“Spruce Point”) issued a report about Premier. The report stated that “due to a unique pre-IPO restructuring agreement, [Premier] is temporarily generating twice the earnings which its business model can sustain organically.” Noting that the contracts between Premier and its “member owner” hospitals were nearing expiration, Spruce Point asserted that “with most member owner equity now having vested, hospitals with expiring contracts are far less incented to remain with Premier at sub-market shareback rates” making them more likely to opt out rather than renew their contracts, which “would cause Premier to underperform FY22-23 consensus revenue by >26% and EBITDA by >50%.”
On this news, Premier’s stock price fell sharply from $33.94 per share to close at $30.75 per share on September 25, 2019.
If you purchased or otherwise acquired Premier shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Premier please go to http://www.bespc.com/PINC. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191010005900/en/
CONTACT: Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Bragar Eagel & Squire, P.C.
Copyright Business Wire 2019.
PUB: 10/10/2019 09:03 PM/DISC: 10/10/2019 09:03 PM