NEW ORLEANS, Dec. 28, 2016 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 21, 2017 to file lead plaintiff applications in a securities class action lawsuit against Universal Health Services, Inc. (NYSE:UHS), if they purchased the Company’s shares between February 26, 2015 and December 7, 2016, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Universal Health and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 21, 2017.
About the Lawsuit
Universal Health and certain executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to: (i) Universal Health admitted patients on its own financial considerations and not upon medical necessity; (ii) Universal Health kept patients admitted until their insurance payments ceased to ensure the maximum payment for services; (iii) as a result, Universal Health’s revenues from inpatient care relied on unsustainable practices; (iv) Universal Health lacked effective internal control concerning its practices and policies of admitting patients. Therefore, Universal Health’s public statements were materially false and misleading at all relevant times.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.