NEW YORK, NY / ACCESSWIRE / February 20, 2021 / Pomerantz LLP is investigating claims on behalf of investors of Healthcare Services Group, Inc. ("HCSG" or the "Company") (NASDAQ:HCSG). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether HCSG and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 10, 2020, HCSG issued a press release announcing the Company's financial and operating results for the fourth quarter of 2020. The press release also provided an update on the status of a previously disclosed U.S. Securities and Exchange Commission ("SEC") investigation into the Company's earnings-per-share calculation practices, announcing that "[t]he Company and the SEC have recently commenced discussions regarding a potential resolution of the investigation, which focuses on periods prior to 2018. As discussions regarding a potential resolution are ongoing, Mr. John C. Shea, the Company's Chief Financial Officer, has notified the Company that he is taking a temporary leave of absence from his duties."
On this news, HCSG's stock price fell $3.01 per share, or 8.88%, to close at $30.90 per share on February 10, 2021.
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.
SOURCE: Pomerantz LLP
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