SAN DIEGO, Nov. 2, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP has commenced an investigation of Adeptus Health Inc. (NYSE: ADPT) concerning possible violations of federal securities laws. Adeptus Health owns and operates a network of independent freestanding emergency rooms in the United States.
On November 1, 2016, Adeptus Health reported third quarter earnings and reported revenues that fell below estimates and lowered its 2016 full year revenue guidance. On a per-share basis the Company said it had a loss of 49 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 6 cents per share. The average estimate of three analysts was for earnings of 52 cents per share.
Adeptus Health CEO stated that results "were disappointing due to weaker than expected volumes in non-HOPD markets, collection issues associated with our third party billing agent and higher costs associated with the opening of three hospitals in the second half of the year, in Denver, Houston and Colorado Springs." The company also announced that CEO Thomas Hall will retire as chairman.
On this news shares traded down over 50% in pre-market trading on November 2, 2016.
If you have information that could assist in this investigation, including past employees and others, or if you are an Adeptus Health shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP