HCSG INVESTORS REMINDER: Lieff Cabraser Reminds Investors of Deadline in Class Action Against Healthcare Services Group, Inc.
A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.
The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds
investors of the upcoming deadline to move for appointment as lead
plaintiff in the
class action litigation that has been filed on behalf of investors who
purchased or otherwise acquired the securities of Healthcare Services
Group, Inc. (“Healthcare Services Group” or the “Company”) (Nasdaq:
HCSG) between April 11, 2017 and March 4, 2019, inclusive (the “Class
Period”).
If you purchased or otherwise acquired Healthcare Services Group
securities during the Class Period, you may move the Court for
appointment as lead plaintiff by no later than May 21, 2019. A lead
plaintiff is a representative party who acts on behalf of other class
members in directing the litigation. Your share of any recovery in the
litigation will not be affected by your decision of whether to seek
appointment as lead plaintiff. You may retain Lieff Cabraser, or other
attorneys, as your counsel in the litigation.
Healthcare
Services Group investors who wish to learn more about the litigation and
how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Healthcare Services Group, based in Bensalem, Pennsylvania, engages in
the management, administrative, and operating services to the
housekeeping, laundry, linen, facility maintenance, and dietary service
departments to nursing homes, retirement complexes, rehabilitation
centers, and hospitals in the United States.
The complaint alleges that throughout the Class Period, Defendants
failed to disclose that (1) Healthcare Services Group was strategically
rounding its quarterly earnings per share (“EPS”) upward for more than a
decade, thus misrepresenting the Company’s financial condition
throughout the Class Period; (2) the Securities and Exchange Commission
(“SEC”) had written to the Company in November 2017 to inquire into its
EPS rounding practices; and (3) the SEC delivered a subpoena to the
Company in March 2018 to produce documents in connection with its
calculation of EPS.
On March 4, 2019, in a Form 8-K filed with the SEC, Healthcare Services
Group disclosed it had received a letter in November 2017 from the SEC
regarding an inquiry into the Company’s EPS calculation practices and
requesting that the Company voluntarily provide certain information and
documents relating to its EPS rounding and reporting practices. The
Company further disclosed it also had received a subpoena in March 2018
from the SEC in connection with those matters and had been providing
information and documents to the SEC.
Following those disclosures, the Company’s stock price fell by $4.96 per
share, or 13.14%, to close at $32.78 on March 4, 2019.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, and Nashville, is a nationally recognized law firm committed
to advancing the rights of investors and promoting corporate
responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms “representing the best qualities of the
plaintiffs’ bar and that demonstrated unusual dedication and
creativity.” Law360 has selected Lieff Cabraser as one of the Top
50 law firms nationwide for litigation, highlighting our firm’s “laser
focus” and noting that our firm routinely finds itself “facing off
against some of the largest and strongest defense law firms in the
world.” And in 2016, Benchmark Litigation named Lieff Cabraser
one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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