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Share Name | Share Symbol | Market | Type |
---|---|---|---|
HCP Inc | NYSE:HCP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 35.78 | 0 | 01:00:00 |
About the Lawsuit
The complaint alleges that HCP violated securities laws by failing to disclose during the class period that one of the Company's major clients, ManorCare, was engaged in rampant billing fraud that may have generated more than $6 billion in false claims for reimbursement, and that the value of HCP's interest in ManorCare was questionable.
On April 21, 2015, HCP disclosed that the U.S. Department of Justice had intervened in whistleblower lawsuits. Then on May 5, 2015, HCP disclosed a recorded $478 million non-cash impairment charge related to certain of its lease arrangements with ManorCare. Then on February 9, 2016, HCP disclosed that its equity stake in ManorCare had been written down to zero, and that it had taken an $836 million non-cash impairment on its ManorCare lease assets and placed all of its ManorCare real estate assets on a "Watch List."
What you can do
If you purchased shares of HCP stock, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact Geoffrey M. Johnson, Esq. or Joseph Halloran, Esq. by telephone at (866) 326-5057 or by email at gjohnson@scott-scott.com or jhalloran@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott + Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California and Ohio. Please visit www.scott-scott.com for more information about the firm.
CONTACT: Scott + Scott, Attorneys at Law, LLP Geoffrey M. Johnson, Esq. Joseph Halloran, Esq. (216) 229-6088, toll-free (866) 326-5057 gjohnson@scott-scott.com jhalloran@scott-scott.com
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