Nobilis Health Corp. (OTC: HLTH) Investor Securities Class Action Lawsuit 12/14/2018

If you purchased a significant amount of shares of Nobilis Health Corp. (OTC: HLTH) between May 8, 2018 and November 15, 2018, and / or if you purchased any OTC: HLTH shares prior to May 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: February 12, 2019. OTC: HLTH investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Nobilis Health
Case Name: 
Nobilis Health Shareholder Class Action Lawsuit 12/14/2018
Case Status: 
Lawsuit Filed
Affected Securities
OTC: HLTH
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/14/2018
Class Period Begin: 
05/08/2018
Class Period End: 
11/15/2018
Court of Filing: 
U.S. District Court for the Southern District of Texas
Deadline To File for Lead: 
02/12/2019
Summary: 

An investor in shares of Nobilis Health Corp. (OTC: HLTH) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Nobilis Health Corp. in connection with certain allegedly false and misleading statements made between May 8, 2018 and November 15, 2018.

Houston, TX based Nobilis Health Corp. owns and manages ambulatory surgical centers (ASCs), and acute-care and surgical hospitals in the United States. It operates through two segments, Medical Services and Marketing. Nobilis Health Corp. reported that its annual Total Revenue rose from $286.12 million in 2016 to $297.31 million in 0217 and that its Net Income declined from $6.44 million in 2016 to $3.79 million in 2017.
On November 9, 2018, Nobilis Health Corp announced that it is “re-evaluating the Net Realizable Value on its Accounts Receivable and intends to make a significant adjustment to the carrying value of accounts receivable, primarily on out of network claims greater than 365 days old.” Nobilis Health Corp filed for additional time to file its 10-Q for the period ended September 30, 2018 while the Company and the auditor completed their review of the financial statements.

Shares of Nobilis Health Corp. (OTC: HLTH) declined to as low as $0.35 per share on December 3, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Nobilis Health Corp. (OTC: HLTH) common shares between May 8, 2018 and November 15, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between May 8, 2018 and November 15, 2018, the defendants failed to disclose to investors that the Company’s accounts receivable was overstated that, as a result, the Company’s revenue was overstated, that, as a result of the required adjustments, the Company’s quarterly report would not be timely filed, that, as a result, the Company would not be in compliance with NYSE listing requirements, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.