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On October 3, 2016, Tenet disclosed that it would pay $514 million to the federal government and state governments to settle allegations that the Company's hospitals in Georgia and South Carolina paid kickbacks for obstetric referrals. Under the settlement, two Tenet subsidiaries will plead guilty to one count of conspiracy to violate federal kickback laws.
On this news, Tenet's share price fell $0.91, or 4.02%, to close at $21.75 per share on October 3, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-tenet-healthcare-corp--thc-300339822.html
SOURCE Pomerantz LLP