SOURCE: Catanzarite Law Corporation

July 31, 2009 22:00 ET

Orange County Based Catanzarite Law Corporation Files Securities Class Action Against Skilled Healthcare Group -- SKH

ANAHEIM, CA--(Marketwire - July 31, 2009) - Catanzarite Law Corporation today announced it has filed a class action lawsuit on behalf of all purchasers of Skilled Healthcare Group, Inc. ("Skilled Healthcare" or the "Company") (NYSE: SKH) common stock during the period from May 14, 2007 through June 9, 2009, inclusive (the "Class Period"). The lawsuit alleges violations of the federal securities laws and seeks to recover losses for Skilled Healthcare shareholders.

To join the Skilled Healthcare class action, go to the website at www.rosenlegal.com or call Ken Catanzarite, Esq. or Jenifer De Vera at 714-520-5544 or email kcatanzarite@catanzarite.com or jdevera@catanzarite.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

The complaint, pending in the U.S. District Court for the Central District of California, charges Skilled Healthcare and certain of its officers and directors violated the federal securities laws by misrepresenting the true amount of its income in its IPO prospectus and in other SEC filings and public communications. In an announcement dated June 9, 2009, Skilled Healthcare announced that the Company's prior financial statements for the annual and quarterly periods between January 1, 2006 and March 31, 2009 should no longer be relied upon and that the Company expected to restate those financial statements. According to the announcement, Skilled Healthcare discovered errors relating to its accounting for reserves on its accounts receivable. The Company estimated that the cumulative charges against after-tax earnings in the aggregate would be between $8 million and $9 million. The Complaint alleges that this adverse disclosure caused the value of Skilled Healthcare's stock to fall, damaging investors.

Plaintiff seeks to recover damages on behalf of all purchasers of Skilled Healthcare common stock during the Class Period, including purchasers of Skilled Healthcare's common stock in the IPO on or about May 14, 2007.

A class action lawsuit has already been filed on behalf of Skilled Healthcare shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2009. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Ken Catanzarite, Esq. or Jenifer De Vera of Catanzarite Law Corporation at 714-520-5544 or via e-mail at kcatanzarite@catanzarite.com or jdevera@catanzarite.com.

The Catanzarite Law Corporation is an Orange County based law firm representing investors across the nation in shareholder and securities litigation.

Contact Information

  • Contact:
    Ken Catanzarite, Esq. or Jenifer de Vera
    Catanzarite Law Corporation
    Tel: 714-520-5544
    2331 West Lincoln Avenue
    Anaheim, CA 92801