Robbins Umeda LLP Announces an Investigation of HCA Holdings, Inc.

SAN DIEGO, Nov. 1, 2011 /PRNewswire/ -- Robbins Umeda LLP, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at HCA Holdings, Inc. (NYSE: HCA).

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Robbins Umeda LLP's investigation focuses on whether officials at HCA Holdings breached their fiduciary duties to shareholders, maintained woefully inadequate controls, and wasted corporate assets to the detriment of the company and investors.  The firm is investigating allegations that officials at the company caused HCA Holdings to improperly prepare its IPO Registration Statement and Prospectus, allowing for the inclusion of materially false information and the omission of necessary facts.  In particular, the firm is examining whether or not officers and directors at HCA Holdings improperly accounted for two major acquisitions as recapitalizations when preparing the IPO filings.

On July 25, 2011, the company released financial results for the second quarter of 2011 that revealed that HCA Holdings was performing well below expectations.  Additionally, a financial analyst report released on October 1, 2011, disclosed that officials at HCA Holdings used a method prohibited by the Financial Accounting Standards Board to account for two major reorganizational transactions.  By using this prohibited method, the company overstated its earnings and failed to account for significant depreciation and amortization charges related to these transactions.  

Since these facts have emerged, the company is increasingly the subject of costly public and legal scrutiny.  These events have also negatively impacted HCA Holdings's value.  After closing as high as $34.24 per share on March 30, 2011, shares of HCA Holdings closed at just $22.78 per share on October 28, 2011.  

If you own shares of HCA Holdings and would like more information about your rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form on our website.  

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits.  The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys.  Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to http://www.robbinsumeda.com.  

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/hca-holdings-inc/

Attorney Advertising. Past results do not guarantee a similar outcome.  

SOURCE Robbins Umeda LLP

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