PHILADELPHIA, April 24, 2020 /PRNewswire/ -- Berger Montague updates investors regarding its securities fraud investigation into NMC Health Plc ("NMC" or the "Company") on behalf of investors who purchased NMC securities, including American Depositary Shares ("ADSs") (OTC Pink: NMHLY), between March 13, 2016 and April 15, 2020.
If you purchased NMC securities, have information, would like to discuss this investigation, or have any questions concerning your rights or interests, please contact our attorneys Benjamin Galdston, Esq. at (619) 678-0187 or Andrew Abramowitz, Esq. at (215) 875-3015, or visit www.bergermontague.com/nmc-health-update.
Founded in 1974 and headquartered in Abu Dhabi, NMC Health is the largest private healthcare company in the UAE. The Company employs 2,000 doctors and 20,000 paramedical and support personnel, and manages over 200 healthcare facilities including hospitals, medical centers, long term care facilities, day surgery centers, fertility clinics, and home health services.
Beginning in December 2019, reports revealed that NMC misled investors by allegedly concealing more than $6.6 billion in debt and improper related-party transactions. Since Berger Montague commenced its investigation, new developments have expanded the scope of the purported fraud. Specifically, top executives, including founder and Board Chairman B.R. Shetty, were removed, the entire Board was replaced, and the Company was placed in administration in the U.K. On April 15, 2020, Abu Dhabi Commercial Bank filed a criminal complaint against NMC Health with the Attorney General's Office of UAE, and trading in the company's shares was halted on the London Stock Exchange. These revelations have caused NMC Health investors additional losses.
If you purchased NMC securities between March 13, 2016 and April 15, 2020, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is May 11, 2020. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding NMC Health Plc should consider their options to help Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of successful recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.
Benjamin Galdston, Shareholder
Andrew Abramowitz, Senior Counsel
SOURCE Berger Montague