Levi & Korsinsky is investigating potential claims on behalf of purchasers of Assisted Living Concepts Inc. (“Assisted Living” or the “Company”) (NYSE: ALC) securities concerning possible violations of federal securities laws.
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On May 4, 2012, shares of Assisted Living fell 12% after the Company announced it was retaining counsel to investigate “possible irregularities” in connection with its lease with Ventas Realty, Limited Partnership (“Ventas Realty”), the landlord for eight assisted living facilities operated by Assisted Living. Furthermore, Georgia and Alabama have revoked the Company’s licenses to operate three facilities. Ventas Realty views these revocations as violations of Assisted Living’s lease agreement, and as such has commenced a lawsuit against the Company in United State District Court for the Northern District of Illinois, seeking a declaratory judgment that Assisted Living breached its obligations under the building lease and forfeited its right to possession.
If you own Assisted Living stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.