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Ryan & Maniskas, LLP Announces Class Action Lawsuit
Class Action |
2012/01/16 09:33
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Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Southern District of Ohio on behalf of purchasers of Chemed Corporation common stock during the period between February 15, 2010 and November 16, 2011.
The complaint charges alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, defendants failed to disclose the following adverse facts: (1) that the Company engaged in a scheme to fraudulently bill Medicare for hospice services for patients who did not qualify for hospice and fraudulently shifted the costs of those patients from health maintenance organizations that covered those patients prior to enrollment in hospice to the U.S. government; (2) that a significant portion of the Company’s hospice enrollments, revenues and earnings were the direct result of defendants’ scheme to enroll ineligible patients in hospice and fraudulently bill Medicare for hospice services; (3) that, in a complaint filed under seal, a former VITAS manager had accused the Company of engaging in a Company-wide scheme to enroll ineligible patients in hospice and fraudulently bill Medicare; (4) that the Company failed to maintain adequate internal controls and procedures with respect to hospice enrollments and Medicare billings; (5) that the Company’s financial results were materially overstated as a result of defendants’ fraudulent scheme to enroll ineligible patients in hospice; and (6) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/che.
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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