NEW YORK, May 9, 2011 (GLOBE NEWSWIRE) -- Labaton Sucharow LLP filed a class action lawsuit on May 9, 2011 in the U.S. District Court for the Middle District of Tennessee. The lawsuit was filed on behalf of purchasers of Community Health Systems, Inc. ("CHS") securities between July 27, 2006 and April 8, 2011, inclusive (the "Class Period").
The action charges CHS and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that, throughout the Class Period, the Company's financial results were artificially inflated by virtue of the fact that CHS was systematically overcharging Medicare, one of its principal sources of revenue.
If you are a member of this class you can view a copy of the complaint and join this class action online at http://www.labaton.com/en/cases/Newly-Filed-Cases.cfm.
If you purchased CHS securities during the Class Period, you may move to serve as Lead Plaintiff. Lead Plaintiff motion papers must be filed with the U.S. District Court for the Middle District of Tennessee no later than July 8, 2011. A lead plaintiff is a court-appointed representative for absent Class members. You do not need to seek appointment as lead plaintiff to share in any Class recovery in this action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. You may retain counsel of your choice to represent you in this action.
If you would like to consider serving as lead plaintiff or have any questions about the lawsuit, you may contact one of our representatives, Rachel A. Avan, Esq. of Labaton Sucharow LLP, at (888) 753-2796 or (212) 907-0709, or via email at ravan@labaton.com.
Labaton Sucharow LLP, with offices in New York, New York and Wilmington, Delaware, is one of the country's premier law firms representing institutional investors in class action and complex securities litigation, as well as consumers and businesses in class actions seeking to recover damages for anticompetitive practices. The Firm has been a champion of investor and consumer rights for over 45 years, seeking recovery of current losses and necessary governance reforms to protect investors and consumers. Labaton Sucharow has been recognized for its excellence by the courts and its peers. More information about Labaton Sucharow is available at www.labaton.com.