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NEW YORK, Dec. 27, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Universal Health Services, Inc. (NYSE:UHS) between February 26, 2015 and December 7, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. To get more information go to:
http://www.zlk.com/pslra/universal-health-services-inc
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
If you suffered a loss in Universal Health Services, Inc., you have until February 22, 2017 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.
The Complaint alleges that defendants made false and/or misleading statements regarding that: (1) the Company admitted patients based on its own financial considerations and not upon the medical necessity of the patient; (2) the Company would keep patients admitted until their insurance payments ran out in order to ensure the maximum payment for its services; (3) as a result, Universal Health's revenues from inpatient care relied on unsustainable practices; (4) in turn, Universal Health lacked effective internal control concerning its practices and policies of admitting patients; and (5) as a result, Universal Health's public statements were materially false and misleading. On December 7, 2016, Buzzfeed published a piece on Universal Health, alleging that the company puts profits ahead of its patients.
On this news, shares of Universal Health fell by $15.01 per share, or approximately 12%, closing at $111.36 per share on December 7, 2016.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
