Saxena White P.A. Files Securities Fraud Class Action Against Envision Healthcare Corp. With An Extended Class Period And Proxy Claims
Boca Raton, September 29, 2017
BOCA RATON, FL— Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Middle District of Tennessee against Envision Healthcare Corporation (“Envision” or the “Company”) (NYSE: EVHC) on behalf of investors who purchased or otherwise acquired the common stock of the Company between March 2, 2015 and September 18, 2017, inclusive (the “Class Period”).
Founded in 1992, Envision is one of the largest providers of healthcare services in the United States. The Company provides physician services, ambulatory surgery services, post-acute care, and medical transportation. EmCare, one of Envision’s subsidiaries, is the nation’s largest physician practice management company, with more than 16,000 clinicians providing services at over 4,600 healthcare facilities. The Company is incorporated in Delaware and maintains its principal executive offices in Nashville, Tennessee.
The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Envision’s growth and profitability were artificially inflated and/or maintained at inflated levels as a result of its illicit business practices; (2) the Company ordered physicians to administer tests that were medically unnecessary, admit patients from the emergency room into a hospital for financial reasons, and bill for the most complex, expensive level of care in unwarranted situations; (3) EmCare routinely arranged for patients who sought treatment at in-network facilities to be treated by out-of-network physicians; (4) EmCare accordingly billed these patients at higher rates than if the patients had received treatment from in-network physicians; (5) the Company’s statements attributing EmCare’s Class Period growth to other factors while failing to disclose that these illicit practices were materially contributing to the Company’s growth were therefore false and/or misleading; and (6) as a result of the foregoing, Defendants’ statements about Envision’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis when they were made.
You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.
If you purchased Envision stock between March 2, 2015 and September 18, 2017, you may contact Lester Hooker (firstname.lastname@example.org) at Saxena White P.A. to discuss your rights and interests.
If you purchased Envision common stock during the Class Period of March 2, 2015 and September 18, 2017 and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than October 3, 2017. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., with offices in Florida, New York, and Massachusetts, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.
Lester R. Hooker, Esq.
Saxena White P.A.
5200 Town Center Circle, Suite 601
Boca Raton, FL 33486
Tel: (561) 206-6708
Fax: (866) 290-1291