Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against NMC Health Plc (NMHLY)

NEW YORK, March 11, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against NMC Health Plc (“NMC” or the “Company”) (OTC: NMHLY) in the United States District Court for the Central District of California on behalf of those who purchased or acquired the securities of NMC between March 13, 2016 and March 10, 2020, inclusive (the “Class Period”).  The lawsuit seeks to recover damages for NMC investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal controls and risk management; (ii) the Company engaged in undisclosed and extensive related party and de facto related party transactions; (iii) the Company’s debts were significantly understated and obfuscated; (iv) the Company’s cash-on-hand figures were overstated; (v) the Company’s principal shareholders were not accurately reporting or accounting their interests or stakes in the Company; (vi) the Company did not review or know their principal shareholders interests or stakes in the Company; (vii) consequently, the Company was not enforcing its Relationship Agreement with the principal shareholders; and (viii) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of NMC during the Class Period should contact the Firm prior to the May 11, 2020 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

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