SOURCE: Brower Piven, A Professional Corporation

January 27, 2012 15:56 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Health Management Associates, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the March 26, 2012 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Jan 27, 2012) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Florida on behalf of purchasers of the common stock of Health Management Associates, Inc. ("HMA" or the "Company") (NYSE: HMA) during the period between July 27, 2009 and January 9, 2012, inclusive (the "Class Period").

If you have suffered a net loss for all transactions in Health Management Associates, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than March 26, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period the weakness of HMA's financial performance and growth, accurate increases in hospital admission rates, and its noncompliance with certain laws and/or regulations. According to the complaint, after, on August 3, 2011, the Company announced that the U.S. Department of Health and Human Services had issued a subpoena requesting information concerning HMA's physician referrals as well as ownership and management at the Company's whole-hospital physician joint ventures, and, after, on January 9, 2012, an analyst from CRT Capital Group issued a report stating that HMA's former compliance director, Paul Meyer, a thirty-year veteran of the FBI Miami Healthcare Fraud Unit, filed a lawsuit against the Company for violation of Florida's Private Sector Whistleblower's Act, the value of HMA's shares declined significantly.

If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact