The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Middle District of Tennessee on behalf of investors who purchased Quorum Health Corporation (NYSE: QHC) securities (1) pursuant and/or traceable to the Registration Statement issued in connection with the Company’s spinoff from Community Health Systems, Inc. effective on or about April 29, 2016; and/or (2) on the open market between May 2, 2016 and August 10, 2016.
The complaint alleges that during the Class Period, Quorum made false and/or misleading statements and/or failed to disclose that: (a) several of Quorum’s hospitals were under-performing at the time of the spinoff from Community Health Systems, Inc.; (b) there were numerous other signs of deficiency at the time of the spinoff; (c) Quorum omitted/and or failed to inform investors of the above-mentioned concerns; and (d) as a result, Quorum’s public statements were materially false and misleading at all relevant times.
On August 10, 2016, Quorum filed a Quarterly Report on Form 10-Q, decreasing its 2016 guidance revenues due to impairment charges, goodwill loss from divesting certain hospitals, and carryover allocation of goodwill at the time of the spinoff. If you suffered a loss in Quorum you have until November 8, 2016 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.
To receive more information, please fill out the form.