Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Texas on behalf of all persons or entities who purchased or otherwise acquired Adeptus Health, Inc. (NYSE:ADPT) securities between April 29, 2016 and March 1, 2017 (the “Class Period”). Investors have until May 9, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that Adeptus had material weaknesses in its internal control over financial reporting.
On March 2, 2017, Adeptus filed a Form NT 10-K with the U.S. Securities & Exchange Commission, stating that the Company would postpone the filing of its 2016 annual report. The Company revealed that it had identified “material weaknesses with respect to internal control over financial reporting in the areas of revenue recognition, accounts receivable, accounting for a contribution to an unconsolidated joint venture, and accounting for equity in (loss) earnings of unconsolidated joint ventures.”
Following this news, Adeptus shares fell $3.76 per share, or approximately 57.4%, to close at $2.79 per share on March 2, 2017.
If you purchased or otherwise acquired Adeptus securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa A. Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm, concentrating in commercial and securities litigation. For additional information concerning the Adeptus lawsuit, please go to www.bespc.com/adpt. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.