The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in HCA Holdings, Inc. of Class Action Lawsuit and the Deadline of December 27, 2011 to Seek a Lead Plaintiff Position
NEW YORK, Nov. 4, 2011 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee on behalf of purchasers of HCA Holdings, Inc. ("HCA" or the "Company") (NYSE: HCA) common stock pursuant or traceable to the Company's Registration Statement and Prospectus issued in connection with its March 9, 2011 initial public offering.
For more information, click here: http://zlk.9nl.com/hca/.
The complaint alleges that HCA sold 145.1 million shares of common stock, for gross proceeds of $4.4 billion, and that it sold these shares pursuant to a materially false and misleading Prospectus. According to the complaint, the Prospectus and Registration Statement omitted that: (a) the Company improperly accounted for its prior business combinations in violation of GAAP; (b) the Company failed to maintain effective internal controls; and (c) the Company failed to disclose known trends and uncertainties that were adversely impacting its revenue growth at the time of its offering.
On October 1, 2011, Barron's published a report questioning HCA's accounting practices and alleging that HCA improperly accounted for two major acquisitions. Barron's further alleged that HCA overstated its reported earnings, as the Company was able to avoid taking significant charges which would have negatively impacted its earnings.
If you suffered a loss in HCA stock you have until December 27, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (877) 363-5972, or visit http://www.zlk.com/hca-holdings-hca.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
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