Nobilis Health (HLTH) Preparing Lawsuit Against Short Sellers
- U.S. Stocks Fall as Fears of Economic Slowdown Return
- Apple (AAPL) Extends Decline as BofA Downgrades to Neutral on More Balanced Risk/Reward
- Wall Street sell-off accelerates after brief respite
- CarMax (KMX) Drops 15% After a 'Horrendous' Earnings Report
- Bernstein's Top Indicator Triggers a Buy Signal, Suggests Short-term Tactical Bounce
The Special Committee of the Board of Directors (the "Special Committee") of Nobilis Health Corp. (NYSE: HLTH) has authorized the Company's management to engage litigation counsel in the United States and in Canada to commence litigation against the hedge fund and individuals behind the Seeking Alpha blog of October 9, 2015. The Special Committee has also instructed management to contact securities regulatory authorities in the United States and Canada to make a formal complaint.
"Yesterday, the Special Committee released the findings of the independent review it commissioned to investigate the allegations of the short-selling anonymous blogger (the "Hopper-Davis Report"). The Hopper-Davis Report concluded that '...the allegations are false, misleading, or without foundation.' The Company believes that Nobilis and its shareholders are the victims of a scheme to 'short and distort' and manipulate Nobilis's stock," said Matthew Maruca, the Company's General Counsel, "and the independent Special Committee not only supports, but also encourages, the Company's management's actions to protect both."
"These manipulative actions have caused the Company and the Company's shareholders to unfairly suffer losses. These losses will be redressed through legal and regulatory processes, and the Company will take immediate and aggressive action to protect the Company and the Company's shareholders," said Mr. Maruca.
The Hopper-Davis Report is available without modification and in its entirety, on Nobilis' website (http://www.nobilishealth.com/) under the "Investors" tab, and will be filed with securities regulators on SEDAR and EDGAR.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cue Health Inc. (HLTH) Appoints Suzanne Stone as Chief Commercial Officer
- aTyr Pharma (LIFE) Announces Notice of Allowance for U.S. Patent for Anti-Neuropilin-2 (NRP2) Monoclonal Antibodies
- Cue Health Appoints Suzanne Stone as New Chief Commercial Officer
Create E-mail Alert Related CategoriesLitigation, Management Changes, Short Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!