Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of HCP, Inc. Investors & Encourages Inves...
08 June 2016 - 3:14AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that a
class action lawsuit has been filed on behalf of investors who
purchased HCP, Inc. (“HCP” or the “Company”) (NYSE: HCP) securities
between March 30, 2015 and February 8, 2016, inclusive (the
“Class Period”). HCP investors have until July 11,
2016 to file a lead plaintiff motion.
Investors suffering losses on their HCP investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to
shareholders@glancylaw.com.
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.
HCP invests in real estate assets, and one of the Company’s
largest investments was in ManorCare, a Company that owned and
operated nursing homes and rehabilitation centers. According to
recent reports ManorCare engaged in an egregious insurance fraud
scheme whereby ManorCare submitted over $6 billion in false claims
for reimbursement. On news of the alleged insurance fraud the HCP’s
shares fell significantly in value thereby damaging investors.
If you purchased shares of HCP during the Class Period you may
move the Court no later than July 11, 2016 to ask
the Court to appoint you as lead plaintiff if you meet certain
legal requirements. To be a member of the Class you need not take
any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you
wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com, or visit our website at
http://glancylaw.com. If you inquire by email please include your
mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160607006504/en/
Glancy Prongay and Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224https://www.glancylaw.comshareholders@glancylaw.com
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