The Shareholders Foundation announces that an investigation on behalf of investors of IPC The Hospitalist Company Inc (NASDAQ:IPCM) shares was initiated over potential securities laws violations by IPC The Hospitalist and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of IPC The Hospitalist Company Inc (NASDAQ:IPCM) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of IPC The Hospitalist Company Inc (NASDAQ:IPCM) concerning whether a series of statements by IPC The Hospitalist Company regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
IPC The Hospitalist Company Inc reported that its annual Total Revenue rose from $310.52 million in 2009 to $523.49 million in 2012 and that its respective Net Income increased from $18.63 million to $32.59 million.
Shares of IPC The Hospitalist Company Inc (NASDAQ:IPCM) grew from $15.30 per share in March 2009 to as high as $62.88 per share in November 2013.
On December 9, 2013, the Company disclosed that in June 2010, IPC The Hospitalist Company, Inc. received a civil investigative demand (CID) issued by the Department of Justice (DOJ), U.S. Attorney’s Office for the Northern District of Illinois.
IPC The Hospitalist Company Inc said the civil investigative demandrequested information concerning claims that IPC The Hospitalist Company Inc have submitted to Medicare and Medicaid between January 1, 2003, through June 4, 2010. Furthermore, IPC The Hospitalist Company Inc disclosed that on December 6, 2013, the U.S. District Court for the Northern District of Illinois (Chicago) lifted the seal on a previously filed civil False Claims Act case related to the June 2010 investigation.
IPC The Hospitalist Company Inc said that the unsealed Court docket includes the whistleblower’s Complaint, a Notice of Election to Intervene filed by the federal government and a Notice of Election to Decline Intervention filed by the State of Illinois and 12 of other states that participated in the investigation.
Shares of IPC The Hospitalist Company Inc declined from almost $63 in November 2013 to as low as $51.99 per share on February 3, 2014.
On May 23, 2014, NASDAQ:IPCM shares closed at $44.04 per share.
Those who purchased shares of IPC The Hospitalist Company Inc (NASDAQ:IPCM) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com