The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of investors who purchased MEDNAX, Inc. (NYSE: MD) securities between February 4, 2016 and July 27, 2017.
According to the MD lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's business model was not sustainable; and (2) Mednax's growth was in fact based upon suppressing physician compensation and enforcing non-compete agreements to deter physician defections. On April 20, 2017, Mednax announced negative financial results for the first quarter of 2017. Then on July 28, 2017, during an earnings call, Mednax announced that the Company failed to complete any acquisitions of anesthesiologist practices during the second quarter and disclosed that any future acquisitions were unlikely. Following this news, shares of Mednax fell from a close of $56.49 on July 27, 2017, to a close of $47.73 per share the following day.
If you suffered a loss in MEDNAX, Inc. you have until September 10, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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