SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

November 14, 2014 19:39 ET

INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Hanger, Inc. to Contact the Firm

NEW YORK, NY--(Marketwired - November 14, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Hanger, Inc. ("Hanger" or the "Company") (NYSE: HGR) of the January 12, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Hanger.

A complaint has been filed in the United States District Court for the Western District of Texas on behalf of all persons who purchased Hanger publicly traded securities between August 1, 2013 and August 7, 2014 (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that during the Class Period, defendants misrepresented and/or concealed the impact that an increase in Medicare audits had on Hanger's business. 

On August 7, 2014, the Company's announced that earnings per share had experienced a 23.1% decline and that Hanger anticipated lower earnings per share than originally estimated for fiscal 2014. The Company attributed the results of an increase in audits of its Medicare reimbursement claims. Hanger had also announced that it had experienced an increase in bad debt as well.

Following this news, Hanger shares declined by $7.39 per share, or nearly 25%, closing on August 8, 2014 at $22.48 per share.

Request more information now by clicking here: www.faruqilaw.com/HGR. There is no cost or obligation to you.

Take Action

If you invested in Hanger common stock or options between August 1, 2013 and August 7, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/HGR. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Hanger's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    rgonnello@faruqilaw.com
    Telephone: (877) 247-4292 or (212) 983-9330