The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Medical Properties Trust, Inc. (NYSE: MPW) who purchased securities between July 15, 2019 and February 22, 2023. The action, which was filed in the United States District Court for the Northern District of Alabama, alleges that the Company violated federal securities laws.
In particular, the Medical Properties Trust lawsuit alleges that (i) the Company masked the distressed state of its tenants through sale-leaseback arrangements which were essentially round-robin transactions in that they allowed debt-saddled tenants to meet their obligations in the short-term; (ii) the Company fraudulently transferred hundreds of millions of dollars in what amounted to a bailout of financially distressed tenants; (iii) the Company concealed its fraudulent transfers with fake construction projects with purportedly high capital expenses, despite the fact that the Company entered into “triple-net leases,” which meant that its tenants were obligated to pay a significant portion of expenses, such as real estate taxes, insurance, and maintenance; and (iv) as a result, the Company’s public statements, including those with respect to the Pennsylvania Properties, were materially false and misleading at the time they were made.
Shareholders have until June 12, 2023 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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