Universal Health Services, Inc.
Period: Feb 26, 2015 to Dec 7, 2016
Lead Plaintiff Deadline: Feb 21, 2017 + Deadline passed
Summary of Case:
A securities class action has been filed against Universal Health Services, Inc. (NYSE:UHS) on behalf of purchasers of Universal Health securities (NYSE:UHS) from February 26, 2015 through December 7, 2016. This case has been filed in the USDC - CA (Central).
The Complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Universal Health admitted patients based on its own financial considerations and not upon the medical necessity of the patient; (2) Universal Health would keep patients admitted until their insurance payments ran out in order to ensure the maximum payment for its services; (3) as a result, Universal Health's revenues from inpatient care relied on unsustainable practices; (4) in turn, Universal Health lacked effective internal control concerning its practices and policies of admitting patients; and (5) as a result, Universal Health's public statements were materially false and misleading at all relevant times. On December 7, 2016, Buzzfeed published an investigative story on Universal Health alleging, among other things, that Universal Health put profits ahead of people. On this news, shares of Universal Health fell $15.01 per share, or nearly 12%, from its previous closing price to close at $111.36 per share on December 7, 2016, damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.