Deadline Alert: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Nobilis Health Corp.
BENSALEM, Pa., Jan. 18, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the February 12, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Nobilis Health Corp. (“Nobilis” or the “Company”) (NYSE American: HLTH ) securities between May 8, 2018 and November 15, 2018, inclusive (the “Class Period”). Nobilis investors have until February 12, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Nobilis 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 November 9, 2018, Nobilis announced that it is “re-evaluating the Net Realizable Value on its Accounts Receivable and intends to make a significant adjustment to the carrying value of accounts receivable, primarily on out of network claims greater than 365 days old.” The Company filed for additional time to file its 10-Q for the period ended September 30, 2018 while the Company and the auditor completed their review of the financial statements. On this news, Nobilis’s share price fell $0.18 per share, or over 25%, to close at $0.52 per share on November 12, 2018, on unusually heavy trading volume, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company’s accounts receivable was overstated; (2) that, as a result, the Company’s revenue was overstated; (3) that, as a result of the required adjustments, the Company’s quarterly report would not be timely filed; (4) that, as a result, the Company would not be in compliance with NYSE listing requirements; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased shares of Nobilis during the Class Period you may move the Court no later than February 12, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 http://www.howardsmithlaw.com.
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