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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Premier, Inc. - PINC

NEW YORK, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of  Premier, Inc. (“Premier” or the “Company”) (PINC).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Premier and certain of its officers and/or directors have engaged in securities fraud or 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 Spruce Point report asserted 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 five- or seven-year contracts between Premier and its “member owner” hospitals were nearing expiration, the Spruce Point further 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” and were 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 during intraday trading on September 25, 2019.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:

Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 9980