SOURCE: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - Feb 10, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of investors who purchased Chemed Corporation ("Chemed" or the "Company") (NYSE: CHE) stock between February 15, 2010 and November 16, 2011.
For more information, click here: http://zlk.9nl.com/chemed.
The complaint alleges that defendants issued materially false and misleading statements regarding the following adverse facts: (a) that the Company engaged in a scheme to fraudulently bill Medicare for hospice services for patients who didn't qualify for hospice and fraudulently shifted the costs of those patients to the U.S. government; (b) that, in a complaint filed under seal, a former VITAS manager accused the Company of engaging in a scheme to enroll ineligible patients in hospice and fraudulently bill Medicare; (c) that the Company failed to maintain adequate internal controls and procedures regarding hospice enrollments and Medicare billings; and (d) that the Company's financial results were materially overstated because of defendants' fraudulent scheme to enroll ineligible patients in hospice.
On November 16, 2011, a Bloomberg article disclosed that a former VITAS manager had accused Chemed of defrauding the federal government by conspiring with health insurers to enroll Medicare patients who were not dying into hospice. In reaction, shares of Chemed stock fell $6.87 per share to close at $50.65 per share.
If you suffered a loss in Chemed you have until March 12, 2012 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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://www.zlk.com/chemed-che.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.