DEADLINE ALERT: Brower Piven Alerts Shareholders Of Approaching Deadline In Class Action Lawsuit And Encourages Those With Losses In Excess Of $100,000 From Investment In Tenet Healthcare Corporation To Contact The Firm
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas on behalf of purchasers of Tenet Healthcare Corporation (NYSE: THC) ("Tenet Healthcare" or the "Company") securities during the period between February 26, 2013 and September 30, 2016, inclusive (the "Class Period"). Investors who wish to become proactively involved in the litigation have until December 6, 2016 to seek appointment as lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Tenet Healthcare securities during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that certain of Tenet Healthcare's hospitals had paid kickbacks for obstetric referrals, these kickbacks were in violation of federal law, and these kickbacks subjected Tenet Healthcare to the risk of heightened regulatory scrutiny, as well as substantial fines. According to the complaint, following an August 1, 2016 filing announcing that the Company had reached an agreement in principle with federal and state authorities pursuant to which the Company would pay nearly $514 million to settle allegations that four Tenet Healthcare hospitals in Georgia and South Carolina paid kickbacks for obstetric referral, and an October 3, 2016 announcement that the Company had finalized the agreement in principle announced on August 1, 2016, the value of Tenet Healthcare shares declined significantly.
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