MINNEAPOLIS, July 9, 2010 (GLOBE NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Middle District of Louisiana on behalf of purchasers of Amedisys, Inc. ("Amedisys" or the "Company") (Nasdaq:AMED) publicly traded securities during the period February 23, 2010 through May 13, 2010 (the "Class Period").
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before August 9, 2010. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges that Defendants made misleading statements and failed to disclose: 1) that the Company's reported sales and earnings growth were materially impacted by a scheme whereby the Company intentionally increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare home health prospective payment system, as those excess visits were not always medically necessary; 2) that the Company's reported sales and earnings were inflated by said scheme and subject to recoupment by Medicare; and 3) that the Company was in material violation of its Code of Ethical Business Conduct and compliance due to the scheme to inflate Medicare revenues.
On May 13, 2010, The Wall Street Journal reported that the Senate Finance Committee had started an investigation into the billing and operating practices of Amedisys. On this news, Amedisys stock fell $4.48 per share.
If you purchased Amedisys, Inc. stock during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
| Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com) |
| Charles H. Johnson & Associates |
| 2599 Mississippi Street |
| New Brighton, MN 55112 |
| (651) 633-5685 |