SAN DIEGO, Aug. 30, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in Louisiana on behalf of certain purchasers of shares of Amedisys Inc (NASDAQ:AMED) over alleged Securities Laws Violations by Amedisys Inc.
Investors who purchased shares of Amedisys Inc (NASDAQ:AMED) prior to August 2008 and continue to hold any of those NASDAQ:AMED shares have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In June 2010 a lawsuit was filed against Amedisys Inc over alleged securities laws violations. The plaintiff alleged defendants made false and/or misleading statements and/or failed to disclose that Amedisys’ reported sales and earnings growth were materially impacted by a scheme whereby Amedisys Inc 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, that the Company's reported sales and earnings were inflated by said scheme and subject to recoupment by Medicare, that Amedisys was in material violation of its Code of Ethical Business Conduct and compliance due to the scheme to inflate Medicare revenues, and that based on the foregoing, defendants lacked a basis for their positive statements about the Company, its prospects and growth.
In January 2011 a consolidated complaint was filed and the defendants responded by filing motions to dismiss that complaint in March 2011. In June 2012, the District Court granted the defendants’ motion to dismiss the complaint and in May 2013, plaintiffs appealed the dismissal of the complaint to the United States Court of Appeals for the Fifth Circuit. In October 2014, a three-judge panel of the Fifth Circuit issued a decision reversing the District Court’s dismissal of the complaint. Then on August 19, 2016, the District Court denied in part the defendants motion to dismiss the case.
Those who purchased shares of Amedisys Inc (NASDAQ:AMED) should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.