The Rosen Law Firm, P.A., is investigating potential claims on behalf of purchasers of the securities of Assisted Living Concepts Inc. (NYSE:ALC), who purchased shares during the period between July 10, 2009 and August 6, 2012, inclusive (the "Class Period"). The investigation concerns whether the company and certain of its officers and directors have violated federal securities laws.
On May 4, 2012, shares of Assisted Living fell $2.37 or 12% to close at $16.80 after ALC 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 ALC. ALC also revealed that Ventas Realty commenced a lawsuit against it on April 26, 2012 in the United States District Court for the Northern District of Illinois seeking a declaratory judgment that ALC has breached its obligations under the building lease and forfeited its right to possession.
On August 7, 2012, ALC announced that on August 2, 2012, the SEC had issued a subpoena to ALC pursuant to the SEC's investigation of ALC. ALC disclosed that the subpoena required it to produce documents on topics such as compliance with occupancy covenants in the lease with Ventas Realty and leasing of units for employee use. On August 7, 2012, ALC shares fell 26.74% on heavy volume.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of ALC If you purchased ALC stock between July 10, 2009 and August 6, 2012, please visit the website at http://www.rosenlegal.com for more information. You may also contact Jonathan Horne, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.