Shareholder Class Action Filed Against Envision Healthcare Corporation - EVHC
11 Aug, 2017, 11:52 ET
RADNOR, Pa., Aug. 11, 2017 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Envision Healthcare Corporation (NYSE: EVHC) ("Envision" or the "Company") on behalf of purchasers of the Company's securities between March 2, 2015 and July 21, 2017, inclusive (the "Class Period").
Investors who purchased or acquired Envision securities during the Class Period may, no later than October 3, 2017, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this action please visit www.ktmc.com/new-cases/envision-healthcare-corporation#join.
Envision shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at [email protected].
Envision provides health care services, including surgery, pharmacy, medical imaging, emergency care, and other related services to patients in the United States. EmCare Holdings ("EmCare") is one of Envision's primary business units.
The shareholder class action complaint alleges that Envision and certain of its executive officers made a series of false and misleading statements and/or failed to disclose to investors that: (i) EmCare routinely arranged for patients who sought treatment at in-network facilities to be treated by out-of-network physicians; (ii) EmCare accordingly billed these patients at higher rates than if the patients had received treatment from in-network physicians; (iii) the Company's statements attributing EmCare's Class Period growth to other factors were therefore false and/or misleading; (iv) Envision's EmCare revenues were likely to be unsustainable after the foregoing conduct came to light; and (v) as a result of the foregoing, Envision's public statements were materially false and misleading at all relevant times.
On July 24, 2017, The New York Times reported that hospitals associated EmCare were disproportionately likely to engage in "surprise billing," in which patients who go to in-network hospitals are treated by out-of-network doctors and subsequently billed at higher rates. Following this news, shares of the Company's stock declined $2.33 per share, or 3.7%, to close on July 24, 2017 at $60.28. The following day the Company's stock declined an additional $1.40 per share.
Envision shareholders may, no later than October 3, 2017, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
SOURCE Kessler Topaz Meltzer & Check, LLP
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