NEW YORK, March 04, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of NMC Health Plc (“NMC” or the “Company”) (OTCMKTS: NMHLY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether NMC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 17, 2019, Muddy Waters Capital issued a report alleging “serious doubts about the company’s financial statements, including its asset values, cash balance, reported profits, and reported debt levels.” On this news, NMC’s American Depositary Share (“ADS”) price fell $11.68 per share, or 33.68%, to close at $23.00 per share on December 17, 2019.
Then, on February 24, 2020, it was announced that NMC’s founder and former Chief Executive Officer and Joint Chairman of the Board, B.R. Shetty, had pledged 7 million shares of NMC stock to Goldman Sachs “as security for debt” and that Shetty held a significantly smaller interest in NMC than previously stated. On this news, NMC’s ADS price fell $0.66 per share, or 5.75%, to close at $10.81 per share on February 24, 2020.
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.
Robert S. Willoughby
888-476-6529 ext. 9980