SOURCE: Kahn Swick & Foti, LLC

July 14, 2010 14:12 ET

Former Attorney General of Louisiana Charles C. Foti, Jr. and KSF Notify Amedisys, Inc. Investors of Lead Plaintiff Application Deadline in Securities Class Action Lawsuit Against Amedysis, Inc. as Share Price Continues to Fall -- AMED

NEW ORLEANS, LA--(Marketwire - July 14, 2010) -  Kahn Swick & Foti, LLC ("KSF") announces that investors have only until August 9, 2010 to inquire and take advantage of their right to apply for lead plaintiff in a securities class action lawsuit filed in the United States District Court, Middle District of Louisiana against Amedisys, Inc. ("Amedisys" or the "Company") (NASDAQ: AMED) and certain of its top officials. No class has yet been certified in this action. On July 13, 2010, AMED shares fell as much as 30 percent to a four-year low (after falling as much as 22 percent on July 1, 2010) after the home health and hospice care provider forecast second-quarter earnings below analysts' estimates. According to Reuters, an RBC Capital Market Analyst downgraded AMED shares to "sector perform" from "outperform" due to increased government scrutiny.

If you are an Amedisys shareholder who has suffered losses on your investment and would like to discuss your legal rights, you may e-mail or call KSF Director of Client Relations, Neil Rothstein, Esq. without obligation or cost to you, toll free at 877/694-9510, after hours via cell phone 330/860-4092, or KSF Managing Partner, Lewis Kahn, toll free 1-866-467-1400, ext. 200, after hours via cell phone 504-301-7900, or by email at neil.rothstein@ksfcounsel.com or lewis.kahn@ksfcounsel.com. KSF attorneys have significant experience in representing both institutional and individual shareholders in securities fraud litigation.

On July 1, 2010, Amedisys announced that it had received subpoenas for documents and a formal investigation from the Securities and Exchange Commission (SEC) related to the company's billing practices. Shares of Amedisys fell as much as 22 percent on that date. The subpoena seeks documents related to the company's home health care services and operations, including reimbursements under the Medicare home health prospective payment system, since January 1, 2000.

If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than August 9, 2010. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. To learn more about KSF, you may visit www.ksfcounsel.com. KSF is a law firm focused on securities class action litigation with offices in Louisiana and New York. KSF's lawyers have significant experience litigating complex securities class actions and have recovered tens of millions of dollars over the past two years for aggrieved investors.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Neil Rothstein, Esq.
    Director of Client Relations
    877-694-9510
    Cell: 330-860-4092
    neil.rothstein@ksfcounsel.com
    206 Covington St.
    Madisonville, LA 70447