Milberg LLP announces that a class action lawsuit was filed in the United States District Court for the Western District of Louisiana on behalf of purchasers of LHC Group, Inc. (NASDAQ:LHCG) common stock between July 30, 2008 and October 26, 2011, (the “Class Period”).
Milberg LLP has created a website (
) that seeks to answer questions about shareholder class actions.
The complaint alleges that LHCG maximized revenue by manipulating the number of patient visits, regardless of patient need, and in effect over-billing Medicare.
On October 3, 2011, the Senate Finance Committee concluded that LHCG engaged in a practice that "at best represent[s] abuses of the Medicare home program" and "[a]t worst, they may be examples of for-profit companies defrauding the Medicare home health program at the expense of taxpayers." On October 26, 2011, LHCG lowered its earnings forecast, in part to settle a government inquiry into whether LHCG improperly billed for home health services. LHCG 's stock price fell 15% in reaction to the news.
If you purchased LHCG shares during the Class Period you may, no later than August 13, 2012, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a class member that represents other class members in directing the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff, however, lead plaintiffs make important decisions that could affect the overall recovery for class members. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.