NMC Health Plc
Lead Plaintiff Deadline: 05/11/2020
SUMMARY OF CASE:
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against NMC Health Plc (“NMC Health” or the “Company”) (OTC: NMHLY) and other defendants related to alleged violations of federal securities laws. If you purchased NMC Health securities between March 13, 2016 and March 10, 2020, inclusive (the “Class Period”), you are encouraged to contact Scott+Scott attorney Joe Pettigrew for additional information at (844) 818-6982 or email@example.com.
NMC Health, together with its subsidiaries, provides healthcare services in the United Arab Emirates, the United Kingdom, Spain, and internationally. NMC Health’s American Depositary Shares (“ADSs”) trade over the counter on the OTC Pink under the ticker symbol “NMHLY.”
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls and risk management; (2) the Company engaged in undisclosed and extensive related party and de facto related party transactions; (3) NMC’s debts were significantly understated and obfuscated; (4) NMC’s cash-on-hand figures were overstated; (5) NMC’s principal shareholders were not accurately reporting or accounting their interests or stakes in the Company; (6) NMC did not review or know their principal shareholders interests or stakes in the Company; (7) consequently, the Company was not enforcing its Relationship Agreement with the principal shareholders; and (8) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The lawsuit alleges that the truth was disclosed to the market over time, starting with a report by Muddy Waters LLC on December 17, 2019, that resulted in a stock drop of over 33%, and ending with a 63.9% stock drop on March 10, 2020, with additional drops in between.
What You Can Do
If you purchased NMC Health securities between March 13, 2016 and March 10, 2020, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at (844) 818-6982 or firstname.lastname@example.org. The deadline for lead plaintiff motions is May 11, 2020.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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