The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Community Health Systems, Inc. (NYSE: CYH) who purchased shares between February 20, 2017 and February 27, 2018. The action, which was filed in the United States District Court for the Middle District of Tennessee, alleges that the Company violated federal securities laws.
In particular, the Community Health lawsuit alleges that (1) that the Company had understated its contractual allowances; (2) that the Company had understated its provision for bad debts; (3) that, as a result, the Company had overstated its net operating revenue; (4) that, as a result, the Company had understated its net loss; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until July 29, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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