RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Envision Healthcare Corporation (NYSE: EVHC) (“Envision” or the “Company”) securities between March 2, 2015 and July 21, 2017, inclusive (the “Class Period”).
Envision shareholders may, no later than October 3, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Envision and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Envision’s operating subsidiary, EmCare Holdings, Inc., routinely arranged for patients who sought treatment at in-network facilities to be treated by out-of-network physicians; (2) EmCare accordingly billed these patients at higher rates than if the patients had received treatment from in-network physicians; (3) Envision’s statements attributing EmCare’s Class Period growth to other factors were therefore false and/or misleading; (4) Envision’s EmCare revenues were likely to be unsustainable after the foregoing conduct came to light; and (5) consequently, Envision’s public statements were materially false and misleading at all relevant times.
On July 24, 2017, The New York Times published an article stating that doctors associated with Envision’s subsidiary EmCare Holdings Inc. were extremely likely to engage in “surprise billing,” in which patients who go to in-network hospitals are treated by out-of-network doctors and then billed at higher rates. Following this news, Envision stock dropped $2.33 per share, or 3.72%, to close at $60.28 on July 24, 2017.
If you are a member of the class, you may, no later than October 3, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.