NEW YORK, Aug. 18, 2017 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against insiders of Molina Healthcare, Inc. ("Molina" or the "Company") (NYSE: MOH), concerning whether they breached their fiduciary duties to shareholders and/or violated the federal securities laws.
On August 2, 2017, the Company withdrew its 2017 earnings outlook and announced that it will eliminate 1,500 jobs and exit certain Obamacare markets after posting a steep second quarter loss. On this news Molina shares fell nearly 6%, or $3.92 per share, to close at 62.32 per share on August 3, 2017. The Company's shares continued to fall the following trading day, closing down $2.52 per share, or over 4%, to close at $59.80 per share on August 4, 2017.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Molina shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP