NEW YORK, Aug. 10, 2012 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Louisiana on behalf of investors who purchased LHC Group, Inc. ("LHC" or the "Company") (Nasdaq: LHCG) securities between July 30, 2008 and October 26, 2011.
For more information, click here: http://zlk.9nl.com/lhc-group-lhcg. There is no cost or obligation to you.
The complaint alleges that Defendants issued materially false and misleading statements regarding the Company's business and engaged in a pattern of practice designed to achieve the most profitable number of therapy visits under the Medicare home health program by manipulating the number of patient visits--regardless of patient need--to maximize revenue.
On October 3, 2011, the Senate Finance Committee released a report indicating that LHC engaged in practices that "at best represent abuses of the Medicare home program" and "[a]t worst, they may be examples of for-profit companies defrauding the Medicare home health program at the expense of taxpayers." On October 26, 2011, LHC lowered its earnings forecast, in part because of a payment to the federal government to settle an inquiry into whether LHC improperly billed for home health services that were medically unnecessary. Upon this news, LHC's stock price fell 15 percent.
If you suffered a loss in LHC you have until August 13, 2012 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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/lhc-group-lhcg.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP