Select Medical Holdings Corporation (NYSE:SEM) Investor Investigation Over Potential Breaches Of Fiduciary Duties Announced

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Company Name(s): 
Select Medical Holdings
Affected Securities: 
NYSE: SEM

May 21, 2013 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Select Medical Holdings Corporation (NYSE:SEM), was announced concerning whether certain Select Medical Holdings officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns, among other things, whether certain Select Medical Holdings officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.

Select Medical Holdings Corporation disclosed that the company and its long term acute care hospital in Evansville, Indiana received various subpoenas and demands for documents relating to the company’s long term acute care hospital in Evansville, Indiana including a request for information and subpoenas from the Office of Inspector General of the U.S. Department of Health and Human Services and subpoenas from the Office of Attorney General for the State of Indiana, and the Evansville (Indiana) Police Department has executed a search warrant at the long term acute care hospital in Evansville.
Select Medical Holdings Corporation reported that its annual Total Revenue rose from over $2.23 billion in 2009 to over $2.94 billion in 2012 and that its Net Income for those time periods increased from $75.28 million to $148.23 million.

Shares of Select Medical Holdings Corporation (NYSE:SEM) reached in 2012 as high as $11.65 per share.

On May 21, 2013, NYSE:SEM shares closed at $8.06 per share.