NEW YORK, May 11, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, notifies investors of class action against HCP, Inc. ("HCP" or "the Company") (NYSE: HCP). The class action has been filed on behalf of a class consisting of all persons or entities who purchased HCP from March 30, 2015 through February 8, 2016, inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that Defendants violated securities laws by misleading investors and failing to disclose that during the class one HCP's chief clients, ManorCare, was engaged in extensive billing fraud that may have generated roughly $6 billion in false settlement claims, and that the value of HCP's interest in ManorCare was dubious.
On April 21, 2015, HCP revealed that the U.S. Department of Justice had intervened in whistleblower lawsuits. On May 5, 2015, HCP reported a $478 million non-cash impairment charge in connection with its lease arrangements with ManorCare. On February 9, 2016, HCP revealed that its equity stake in ManorCare had been written down to zero, and that it had taken an $836 million non-cash impairment on its ManorCare lease assets and placed all of its ManorCare real estate assets on a "Watch List."
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!hcp/cv82w. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in DS Healthcare you have until July 11, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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