WAYNE, Pa., May 13, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/che) announces that it is investigating potential claims against Chemed Corporation ("Chemed" or the "Company") (NYSE: CHE) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company, regarding Chemed's business, operations and prospects were false and misleading.
On May 2, 2013, the U.S. Department of Justice (the "DOJ") sued Chemed and certain affiliates alleging that the Company systematically defrauded Medicare. According to the DOJ, the Company aggressively marketed intensive nursing care to patients who did not need it, and then improperly billed Medicare, sometimes for patients who never even received the care. The Company allegedly submitted fraudulent records and statements in support of these and other Medicare claims.
On this news, Chemed shares fell nearly 20%.
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Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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