NEW YORK, March 22, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Medical Properties Trust, Inc. ("MPT" or the "Company") (NYSE: MPW). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether MPT and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 23, 2023, MPT announced its fourth quarter and full year 2022 financial results. Among other items, the Company disclosed an impairment of approximately $171 million on four properties leased to Prospect Medical Holdings and announced a plan to write off about $112 million in unbilled rent from the same client.
On this news, MPT's stock price fell $1.06 per share, or 8.69%, to close at $11.14 per share on February 23, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
