SOURCE: Izard Nobel LLP

June 15, 2010 18:00 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Amedisys, Inc.

WEST HARTFORD, CT--(Marketwire - June 15, 2010) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Middle District of Louisiana on behalf of purchasers of the securities of Amedisys, Inc. ("Amedisys" or the "Company") (NASDAQ: AMED) between February 23, 2010 and May 13, 2010, inclusive (the "Class Period").

The Complaint charges that Amedisys and certain of its officers and executives violated federal securities laws. Specifically, the Complaint alleges that defendants made misleading statements and/or failed to disclose: (i) that the Company's reported sales and earnings growth were materially impacted by a scheme whereby the Company intentionally increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare home health prospective payment system, as those excess visits were not always medically necessary; (ii) that the Company's reported sales and earnings were inflated by said scheme and subject to recoupment by Medicare; and (iii) that the Company was in material violation of its Code of Ethical Business Conduct and compliance due to the scheme to inflate Medicare revenues.

On May 13, 2010, The Wall Street Journal reported that the Senate Finance Committee had started an investigation into the billing and operating practices of Amedisys. On this news, Amedisys stock fell $4.48 per share.

If you are a member of the class, you may, no later than August 9, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

Contact Information