The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Healthcare Services Group, Inc. (NASDAQ: HCSG) who purchased shares between April 11, 2017 and March 4, 2019. The action, which was filed in the United States District Court for the Eastern District of Pennsylvania, alleges that the Company violated federal securities laws.
In particular, the HCSG lawsuit alleges that (a) Defendant Wahl either knew or was reckless in not knowing that the Company had been accused of strategically rounding quarterly earnings per share, and therefore investors could not rely upon the Company’s track record without conducting a thorough investigation into the allegations; (b) Defendants concealed that the SEC had written to the Company in November 2017 to inquire into the Company’s earnings per share rounding practices; and (c) the Company concealed that the SEC delivered a subpoena to the Company in March 2018 demanding the Company produce documents in connection with how it calculated earnings per share.
Shareholders have until May 21, 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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