Recent Securities Litigations
Community Health Systems Inc. Common Stock (NYSE: CYH)
According to a press release dated May 9, 2011, the action charges CHS and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that, throughout the Class Period, the Company's financial results were artificially inflated by virtue of the fact that CHS was systematically overcharging Medicare, one of its principal sources of revenue.
On December 28, 2011, the Court issued an Order adopting Magistrate Judge Knowles' Report and Recommendation. The cases are consolidated under lead case 3:11-cv-00433. Lead Plaintiff and lead counsel are approved.
On July 13, 2012, plaintiffs filed their consolidated class action complaint.