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Health Management Associates, Inc. (NYSE:HMA) Investor Alert: Lawsuit over alleged Medicare Fraud

A lawsuit was filed by a current investor in shares of Health Management Associates, Inc. (NYSE:HMA) and long-term NYSE:HMA stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog - Feb. 25, 2013 - An investor in shares of Health Management Associates, Inc. (NYSE:HMA) filed a lawsuit against directors of Health Management Associates, Inc. over alleged Medicare billing misconduct at Health Management Associates, Inc.

Investors who are current long term investors in Health Management Associates, Inc. (NYSE:HMA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that an alleged widespread billing misconduct at Health Management Associates, Inc. put investors in serious financial jeopardy. The plaintiff says that due to the alleged misconduct the company is potentially exposed to huge legal defense cost and cost of responding to subpoenas from the U.S. Office of Inspector General.

The plaintiff alleges that the defendants breached their fiduciary duties owed to Health Management Associates, Inc. and its shareholders by causing the company to allegedly systematically implement a standard operating practice or ‘rampant Medicare fraud’ as the company’s business model and as a result , Health Management Associates’ hospitals allegedly submitted inflated and fraudulent billing statements to Medicare in violation of numerous laws and regulations.

The plaintiff says that the alleged billing scheme began to unravel in August 2011 when Health Management Associates, Inc. announced that the U.S. Department of Health and Human Services, Office of Inspector General issued a subpoena which requested “information on [its] physician referrals as well as ownership and management at [its] whole-hospital physician joint ventures, among other things”.

In October, Health Management Associates, Inc. disclosed in a filing with the SEC that the Office of Inspector General subpoenas might be related to potential violations of the Anti-Kickback- Statute and the False Claims Act and could have been prompted by a whistleblower complaint, so the plaintiff.

In December 2012 Health Management Associates, Inc. was featured in a report on CBS’ “60 minutes” concerning allegations of questionable Medicare practices.

On Jan. 9, 2013, an analyst for CRT Capital Group wrote about a lawsuit filed by former compliance director.

Shares of Health Management Associates, Inc. (NYSE:HMA) closed on Jan. 25, 2013 at $10.28 per share.

Those who are current long term investors in Health Management Associates, Inc. (NYSE:HMA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

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Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
City/Town:San Diego - California - United States
Industry:Business, Finance
Tags:health management associates, nyse: hma, lawsuit
Shortcut:prlog.org/12086231
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