Community Health Systems Investor Investigation

If you currently hold Community Health Systems (NYSE: CYH) and held the stock for some time, you have certain options and you should contact the Shareholders Foundation, Inc. immediately!

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Company Name(s): 
Community Health Systems
Affected Securities: 

An investigation on behalf of certain investors in Community Health Systems (NYSE: CYH) over potential shareholder claims in connection with possible improprieties relating to Medicare billing and reimbursement practices.

According to the investigation by a law firm the investigation focuses on possible shareholder claims against certain current and former officers and directors of Community Health Systems, Inc. (CHS) for possible improprieties relating to Medicare billing and reimbursement practices. According to a lawsuit filed by a former employeeof Community Health Systems, CHS's senior officers and directors allegedly put in place an arrangement with certain New Mexico counties whereby Community Health Systems offered the counties an unrestricted "donation" each year with the understanding that the money would be used towards New Mexico's Sole Community Provider Fund and Sole Community Hospital Supplemental Payments program. These "donations" were then given back to CHS' hospitals, along with a federal government match at a three-to-one rate. This scheme, so the investigation, was an unlawful violation of federal Medicaid rules and Community Health Systems has also been implicated in a similar scheme at the Helena Regional Medical Center, a hospital that Community Health Systems owns and operates in Arkansas.

As a result of these acts, so the investigation, Community Health Systems has suffered significant losses and damages, including, but not limited to, costs and expenses incurred in connection the federal government's investigation and intervention in a qui tam suit currently pending against Community Health Systems.

Community Health Systems is located in Franklin, Tennessee and had $7.06377billion in total revenue with a net income of $30.29million in 2007 and $10.8401billion in total revenue with $218.30million in 2008. Shares of Community Health Systems (NYSE: CYH) traded at $24.76 per share, down from $39.10 per share in 2008 and $42.81 per share in 2007.