INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Medical Properties Trust Inc. to Contact Law Firm
NEW YORK, May 9, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
*please contact [email protected]
Medical Properties Trust, Inc. is a publicly traded real-estate investment trust based in Birmingham, Alabama.
The investigation concerns allegations of MPW's false and/or misleading statements, as well as a failure to disclose material facts as reported by the Wall Street Journal on May 7, 2024. The Wall Street article reported, among other things, that MPW faced financial hardship after "aiding its largest tenant [Steward Health Care System] with one financial-support package after another." Supplying this aid, in the form of huge payments to Steward Health Care System, has proven to be a big mistake for Medical Properties Trust after Steward Health Care System filed for bankruptcy. Medical Properties Trust is now one of Steward's biggest creditors and will be lucky to recover most, if any, of its $97.5 million in loans to Steward.
This report comes on the heels of other bad news for MPW shareholders. In 2023, allegations surfaced that MPW's recapitalization transaction with Prospect Medical Holdings, Inc. was subject to regulatory approval and had in fact been placed on hold by the Department of Managed Health Care of the Health and Human Services Agency of the State of California.
MPT's shares are down 81% since peaking in February 2020. Last year MPT cut its quarterly dividend by almost half.
ABOUT MOORE LAW PLLC
Moore Law is a NYC litigation law firm for investors seeking to enforce their rights. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate malfeasance. We strengthen corporate governance reforms to better protect your investments. There is no cost to you. We will never send you a bill or ask for payment. Attorney advertising. Prior results do not guarantee a similar outcome.
Fletcher Moore, Esq.
Moore Law, PLLC
[email protected]
(212) 709-8245
www.fmoorelaw.com
SOURCE Moore Law PLLC
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