NEW YORK, May 27, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of HCP, Inc. (“HCP”
or “the Company”) (NYSE:HCP) between March 30, 2015 and
February 8, 2016. You are hereby notified that a class action lawsuit has commenced in the USDC
for the Northern District of Ohio. To get more information go to:
http://www.zlk.com/pslra/hcp
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no
cost or obligation to you.
The complaint alleges that HCP violated securities laws by failing to disclose during the class period that one
of the Company’s major clients, ManorCare, was engaged in rampant billing fraud that may have generated more than $6 billion in
false claims for reimbursement, and that the value of HCP’s interest in ManorCare was questionable.
On April 21, 2015, HCP disclosed that the U.S. Department of Justice had intervened in whistleblower lawsuits.
Then on May 5, 2015, HCP disclosed a recorded $478 million non-cash impairment charge related to certain of its lease arrangements
with ManorCare. Then on February 9, 2016, HCP disclosed that its equity stake in ManorCare had been written down to zero, and that
it had taken an $836 million non-cash impairment on its ManorCare lease assets and placed all of its ManorCare real estate assets
on a “Watch List.”
If you suffered a loss in HCP you have until July 11, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery
doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and
Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and
have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
