Hagens Berman Reminds HCP, Inc. (NYSE: HCP) Investors of July 11, 2016 Lead Plaintiff Deadline in Securities Class Action Con...
27 June 2016 - 6:00PM
Hagens Berman Sobol Shapiro LLP, a national investor-rights law
firm,
reminds HCP, Inc. (NYSE:HCP)
investors of July 11, 2016 Lead Plaintiff deadline
in the securities class action filed in the U.S. District Court for
the Northern District of Ohio.
If you purchased or otherwise acquired
securities of HCP, Inc. (“HCP” or the “Company”)
(NYSE:HCP) between March 30, 2015 and February 8,
2016 and suffered $200,000 or more in losses
contact Hagens Berman Sobol Shapiro LLP partner Reed
Kathrein, who is leading the firm’s investigation by
calling 510-725-3000, emailing HCP@hbsslaw.com or
visiting https://www.hbsslaw.com/cases/HCP.
The litigation concerns Defendants’ statements, in
part, about the financial condition of the Company’s largest
tenant, ManorCare, and about assurances to investors that
assets HCP acquired from ManorCare and revenue stream from its
leases with ManorCare were secure and unimpaired.
In addition, it concerns Defendants’ statements
that ManorCare had “a long history of compliance with regulations”
when in fact the Department of Justice intervened in whistleblower
lawsuits charging that ManorCare submitted over $6 billion in false
claims for government reimbursements.
When HCP first disclosed, on May 5, 2015, that its
ManorCare assets were impaired by $478 million, HCP’s stock
declined by 2.9%.
Then, when HCP disclosed on November 3, 2015 that
its equity interest in ManorCare was impaired by $27 million HCP’s
stock declined by 2.6%.
Finally, when HCP disclosed on February 9, 2016
that its ManorCare equity interest was worth nothing and its
ManorCare assets were impaired by an additional $836 million, HCP’s
stock price declined 17%.
“HCP’s ManorCare-related problems were clearly
material to HCP investors, who should have been – but were not –
fully informed of them,” said Hagens Berman partner Reed
Kathrein.
Whistleblowers: Persons with
non-public information regarding HCP should consider their options
to help in the investigation or take advantage of the SEC
Whistleblower program. Under the new SEC whistleblower program,
whistleblowers who provide original information may receive rewards
totaling up to 30 percent of any successful recovery made by the
SEC. For more information, call Reed Kathrein at
510-725-3000 or email HCP@hbsslaw.com.
About Hagens Berman Hagens Berman is a national
investor-rights law firm headquartered in Seattle, Washington with
offices in 10 cities. The Firm represents investors,
whistleblowers, workers and consumers in complex litigation. More
about the Firm and its successes can be found at www.hbsslaw.com.
Read the Firm’s Securities Newsletter, and visit the blog. For the
latest news visit our newsroom or follow us on Twitter at
@classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
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