RADNOR, Pa., May 06, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Molina Healthcare, Inc. (NYSE:MOH) (“Molina” or the “Company”) on behalf of purchasers of the Company’s securities between October 31, 2014 and August 2, 2017, inclusive (the “Class Period”).
Molina investors are encouraged to visit www.kaskelalaw.com/case/molina to receive additional information about this action and submit their information online. Investors may also contact attorney D. Seamus Kaskela at (888) 715 – 1740, or via email at skaskela@kaskelalaw.com, to discuss their legal rights and options with respect to this action.
The shareholder class action complaint alleges that Molina and certain of its executive officers misled investors about the scalability of the Company’s existing administrative infrastructure, and falsely claimed that the Company’s administrative infrastructure could support rapid growth into existing Medicaid markets and new Patient Protection and Affordable Care Act health insurance marketplaces in a cost-effective manner.
As detailed in the complaint, the truth about Molina’s failed growth strategy and inadequate administrative infrastructure was revealed through a series of partial disclosures, including the Company’s announcement of a major restructuring plan, and the reporting of disappointing financial results and significant restructuring costs and impairment losses. The complaint further alleges that, as a result of the foregoing, investors purchased Molina’s securities at artificially inflated prices during the Class Period and sustained significant investment losses when the truth was revealed.
Investors who purchased Molina securities during the Class Period may, no later than June 29, 2018, seek to be appointed as a lead plaintiff representative of the class through Kaskela Law or other counsel, or may choose to do nothing and remain an absent class member. In order to be appointed as a lead plaintiff a class member meet certain legal requirements.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com