SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

February 14, 2012 16:52 ET

The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in Health Management Associates, Inc. of Class Action Lawsuit and the Deadline of March 26, 2012 to Seek a Lead Plaintiff Position

NEW YORK, NY--(Marketwire - Feb 14, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Florida on behalf of investors who purchased Health Management Associates, Inc. ("Health Management" or the "Company") (NYSE: HMA) stock between July 23, 2009 and January 9, 2012.

For more information, click here: http://zlk.9nl.com/health-management-associates-hma.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance to investors. Specifically, defendants, including the Company's CEO, as well as its current and former CFO, reported strong financial performance and growth, along with increased hospital admittance during the class period.

On August 3, 2011, the Company announced that the U.S. Department of Health and Human Services (DHHS) had issued a subpoena requesting information into Health Management's physician referrals. As a result, shares in the Company's common stock dropped by $0.80, closing at $7.97 per share. Five months later, on January 9, 2012, an analyst from CRT Capital Group reported a lawsuit had been filed against the Company under Florida's Private Sector Whistleblower's Act by its former compliance director, Paul Meyer. Meyer alleges he was unlawfully terminated after reporting what he believed to be Medicare fraud, which also included fraudulent billing. Health Management's common stock fell yet again $0.53, dropping from $7.49 to $6.96 per share.

If you suffered a loss in Health Management you have until March 26, 2012 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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/health-management-associates-hma.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com