SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

May 17, 2016 10:54 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of HCP, Inc. of Class Action Lawsuit and a Lead Plaintiff Deadline of July 11, 2016 -- HCP

NEW YORK, NY--(Marketwired - May 17, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of HCP, Inc. ("HCP" or "the Company") (NYSE: HCPbetween March 30, 2015 and February 8, 2016. You are hereby notified that a class action lawsuit has commenced in the USDC for the Northern District of Ohio. To get more information go to:

http://www.zlk.com/pslra/hcp

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that HCP violated securities laws by failing to disclose during the class period that one of the Company's major clients, ManorCare, was engaged in rampant billing fraud that may have generated more than $6 billion in false claims for reimbursement, and that the value of HCP's interest in ManorCare was questionable.

On April 21, 2015, HCP disclosed that the U.S. Department of Justice had intervened in whistleblower lawsuits. Then on May 5, 2015, HCP disclosed a recorded $478 million non-cash impairment charge related to certain of its lease arrangements with ManorCare. Then on February 9, 2016, HCP disclosed that its equity stake in ManorCare had been written down to zero, and that it had taken an $836 million non-cash impairment on its ManorCare lease assets and placed all of its ManorCare real estate assets on a "Watch List."

If you suffered a loss in HCP you have until July 11, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com