The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class
action litigation has been brought on behalf of investors who purchased
or otherwise acquired the securities of Nobilis Health Corporation
(“Nobilis” or the “Company”) (NYSE: HLTH) between April 2, 2015 and
January 6, 2016, inclusive (the “Class Period”).
If you purchased or acquired Nobilis securities during the Class Period,
you may move the Court for appointment as lead plaintiff by no later
than March 21, 2016. A lead plaintiff is a representative party who acts
on behalf of other class members in directing the litigation. Your share
of any recovery in the action will not be affected by your decision of
whether to seek appointment as lead plaintiff. You may retain Lieff
Cabraser, or other attorneys, as your counsel in the action.
Nobilis
investors who wish to learn more about the litigation and how to seek
appointment as lead plaintiff should click here or contact Sharon M.
Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Nobilis Securities Class Litigation
The action alleges that defendants made false and/or misleading
statements and/or failed to disclose that: (i) Nobilis’s financial
statements contained numerous errors concerning the Company’s
classification of warrants and options, business combination accounting,
share-based compensation, and other financial and operating results;
(ii) Nobilis had overstated its net income for the year ended December
31, 2014 by more than $4 million; and (iii) Nobilis had overstated its
net income for the quarter ended March 31, 2015 by more than $3.27
million.
On October 9, 2015, Seeking Alpha published an article raising a
number of questions regarding Nobilis’s accounting practices. On this
news, the price of Nobilis common stock fell $1.42 per share, or 27.1%,
from its closing price of $5.24 on October 8, 2015, to close at $3.82
per share on October 9, 2015.
On November 11, 2015, after the market closed, Nobilis announced that
its preliminary results for the third quarter of 2015 and its final
earnings release would be delayed. On this news, Nobilis stock fell
$0.65 per share, or 18.06%, from its closing price of $3.60 on November
11, 2015, to close at $2.95 per share on November 12, 2015.
On January 5, 2016, after the market closed, Nobilis disclosed that its
financial statements for the fiscal year ended December 31, 2014, the
quarters ended March 31, 2015 and June 30, 2015, and the financial
statements in its updated S-1 registration statement filed on October
23, 2015 can no longer be relied upon.
On January 7, 2016, before the market opened, Nobilis announced that
defendant Christopher J. Lloyd had resigned as the Company’s Chief
Executive Officer. On this news, Nobilis stock fell $0.63 per share, or
20.32%, from its closing price of $3.10 on January 6, 2016, to close at
$2.47 per share on January 7, 2016.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, Nashville, and Seattle, is a nationally recognized law firm
committed to advancing the rights of investors and promoting corporate
responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for thirteen years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms “representing the best qualities of the
plaintiffs’ bar and that demonstrated unusual dedication and
creativity.” Best Lawyers and U.S. News have named Lieff
Cabraser as a “Law Firm of the Year” for each year the publications have
given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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