Law Offices of Howard G. Smith reminds investors of the upcoming July
29, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors who purchased Community Health
Systems, Inc. (“Community Health” or the “Company”) (NYSE: CYH)
securities between February 20, 2017 and February 27, 2018,
inclusive (the “Class Period”).
Investors suffering losses on their Community Health investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On February 27, 2018, the Company announced that its fourth quarter 2017
net operating revenues totaled $3.059 billion and were adversely
impacted by a $591 million increase in contractual allowances and
provision for bad debts. On this news, the Company’s share price fell
$1.06 per share, more than 17%, to close at $5.12 per share on February
28, 2018, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that the Company had
understated its contractual allowances; (2) that the Company had
understated its provision for bad debts; (3) that, as a result, the
Company had overstated its net operating revenue; (4) that, as a result,
the Company had understated its net loss; and (5) that, as a result of
the foregoing, Defendants’ positive statements about the Company’s
business, operations, and prospects were materially misleading and/or
lacked a reasonable basis.
If you purchased shares of Community Health during the Class Period you
may move the Court no later than July 29, 2019 to ask
the Court to appoint you as lead plaintiff if you meet certain legal
requirements. To be a member of the class action you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the class action. If you wish
to learn more about this class action, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by
email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190606005889/en/