SAN DIEGO, CA / ACCESSWIRE / March 19, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit for certain investors in shares of Community Health Systems Inc (CYH) is pending against Community Health Systems Inc over alleged Securities Laws Violations.
On May 09, 2001, a lawsuit was against Community Health Systems Inc (NYSE: CYH over alleged violations of securities laws. The plaintiff alleged that between July 27, 2006 and April 8, 2011, the Company's financial results were artificially inflated by virtue of the fact that Community Health Systems Inc was systematically overcharging Medicare, one of its principal sources of revenue.
On July 13, 2012 an amended complaint was filed and on September 11, 2012 the defendants filed their motion to dismiss the complaint. On October 15, 2015, another amended complaint was filed and on November 4, 2015 the defendants filed their motion to dismiss that complaint. Then on June 16, 2016, the court issued an order granting the defendants' motion to dismiss the prejudice. On June 27, 2016, a notice appealing the court's decision was filed and on December 13, 2017, the court of appeals issued a memorandum reversing the decision of the District Court and remanding for proceedings consistent with their opinion. On February 9, 2018, the defendants filed a motion to dismiss the amended complaint and on September 24, the court issued an order denying defendants' motion to dismiss.
Those who purchased Community Health Systems Inc (CYH) shares have certain options and should contact the Shareholders Foundation, Inc.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
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