The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Molina Healthcare, Inc. (NYSE: MOH) securities between October 31, 2014 and August 2, 2017.
According to the MOH lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Molina's administrative infrastructure was never designed to handle the size and complexity of its rapid growth strategy; and (2) it failed to remediate systemic issues and costly disruptions with critical administrative infrastructure functions, including provider payment and utilization management. On April 28, 2016, Molina reported an earnings miss for the first quarter ended March 31, 2016 and reduced its full-year 2016 earnings guidance. On August 2, 2017, Molina withdrew its 2017 earnings projection, reported a net loss of $230 million for the second quarter ended June 30, 2017, and revealed it would exit certain ACA Health Exchange markets.
If you suffered a loss in Molina Healthcare, Inc. you have until June 29, 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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