Levi & Korsinsky is investigating potential claims on behalf of purchasers of Assisted Living Concepts Inc. (“ALC” or the “Company”) (NYSE: ALC) securities concerning possible breaches of fiduciary duty.
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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.
Then on August 7, 2012, ALC disclosed that, as part of an investigation of the company, the United States Securities and Exchange Commission (“SEC”) has issued a subpoena requiring the company to produce documents on a number of topics, including compliance with occupancy covenants in its former lease with Ventas Realty. The SEC has also sought documents concerning the leasing of units for employee use. ALC shares have fallen from a close of $10.77 per share on August 6, 2012 to $7.54 per share following news of the SEC investigation.
If you own ALC 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.