Block & Leviton LLP Files Securities Class Action Against Health Management Associates, Inc.

BOSTON, Jan. 26, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has filed a securities class action on behalf of investors who purchased Health Management Associates, Inc. ("HMA" or the "Company") (NYSE: HMA) common stock during the period July 27, 2009 through January 9, 2012 (the "Class Period"). The lawsuit, captioned Sapssov v. Health Management Associates, Inc., et al., 2:12-cv-46-FTM-SPC, is pending in the United States District Court for the Middle District of Florida.

The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the SEC. The complaint asserts that HMA, its Chief Executive Officer, and its current and former Chief Financial Officers made materially false and misleading statements during the Class Period.

Throughout the Class Period, Defendants repeatedly touted HMA's strong financial performance and growth, its increase in hospital admission rates, and its compliance with all applicable laws and regulations. However, on August 3, 2011, Defendants announced that the U.S. Department of Health and Human Services had issued a subpoena requesting "information on [HMA's] physician referrals as well as ownership and management at our whole-hospital physician joint ventures, among other items." On this news, shares of HMA common stock fell by $0.80, to close at $7.97 per share.

Then, on January 9, 2012, an analyst from CRT Capital Group issued a report stating that HMA's former compliance director, Paul Meyer, filed a lawsuit against the Company for violation of Florida's Private Sector Whistleblower's Act. In addition to being HMA's Director of Compliance at the time of his wrongful termination, Meyer was a thirty-year veteran of the FBI, Healthcare Fraud Unit, in Miami. On this news, shares of Health Management dropped another $0.53 per share, falling from $7.49 per share to $6.96.

If you purchased HMA shares during the Class Period, you may, no later than March 26, 2012, request that the court appoint you as Lead Plaintiff. You may contact the attorneys at Block & Leviton to discuss your rights in the case. You may also retain counsel of your choice and you need not take any action at this time to be a class member.

Contact: Mark A. Delaney, Esq.
[email protected]
Jason M. Leviton, Esq.
[email protected]
617-398-5600

SOURCE Block & Leviton LLP

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