DEADLINE REMINDER ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Molina Healthcare, Inc. &...
15 June 2018 - 7:30AM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against Molina
Healthcare, Inc. (“Molina” or "the Company") (NYSE: MOH) for
violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities
and Exchange Commission.
Investors who purchased the Company's shares between October 31,
2014, and August 2, 2017, inclusive (the "Class Period"), are
encouraged to contact the firm before June 29, 2018.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, Molina made false and misleading
statements to the market throughout the class period. The Company
failed to disclose that its administrative systems and internal
infrastructure were not capable of handling its growth plans. It
also failed to mitigate infrastructure flaws that caused critical
errors in areas such as provider payments. As a result of these
problems, Molina reported an earnings miss for the quarter ending
March 31, 2016, also lowering its full-year 2016 guidance. Molina
withdrew its 2017 earnings projection on August 2, 2017, the same
day it reported a $230 million net loss for the quarter ending June
30, 2017. At the same time, the Company announced it would exit the
ACA Health Exchange Marketplace. When the market learned the true
details about Molina, investors suffered damages.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180614006288/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,310-301-3335info@schallfirm.comwww.schallfirm.com
Molina Healthcare (NYSE:MOH)
Historical Stock Chart
From Apr 2024 to May 2024
Molina Healthcare (NYSE:MOH)
Historical Stock Chart
From May 2023 to May 2024