The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Universal Health Services, Inc. (NYSE:UHS) shares was initiated over potential breaches of fiduciary duties by certain Universal Health Services officers and directors.
Investors who purchased shares of Universal Health Services, Inc. (NYSE:UHS) and currently hold any of those NYSE:UHS shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Universal Health Services officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
In September, 2010, Universal Health Services, Inc.along with other companies in the healthcare industry, received a letter from the United States Department of Justice (“DOJ”) advising of a False Claim Act investigation being conducted in connection with the implantation of implantable cardioverter defibrillators (“ICDs”) from 2003 to 2010 at several of our acute care facilities.
In February 2013, the Office of Inspector General (“OIG”) served a subpoena requesting various documents from January, 2008 to the date of the subpoena directed at Universal Health Services, Inc. (“UHS”) concerning it and UHS of Delaware, Inc., and several UHS owned behavioral health facilities.
In April, 2013, the OIG served facility specific subpoenas on Wekiva Springs Center and River Point Behavioral Health requesting various documents from January, 2005 to the date of the subpoenas.
In July, 2013, another subpoena was issued to Wekiva Springs Center and River Point Behavioral Health requesting additional records
In October, 2013, Universal Health Services, Inc was advised by the DOJ’s Criminal Frauds Section that they received a referral from the DOJ Civil Division and opened an investigation of River Point Behavioral Health and Wekiva Springs Center.
In February, 2014, Universal Health Services, Inc was notified that the investigation conducted by the Criminal Frauds Section had been expanded to include the National Deaf Academy.
In March, 2014, a Civil Investigative Demand (“CID”) was served on the National Deaf Academy requesting documents and information from the facility from January 1, 2008 through the date of the CID. In March, 2014, CIDs were served on Hartgrove Hospital, Rock River Academy and Streamwood Behavioral Health requesting documents and information from those facilities from January 2008 through the date of the CID.
In September, 2014, the DOJ Civil Division advised Universal Health Services, Inc that they were expanding their investigation to include four additional facilities and were requesting production of documents from these facilities.
Shares of Universal Health Services, Inc. (NYSE:UHS) grew from $50 per share in early 2013 to as high as $114.66 per share in September 2014.
On December 12, 2014, NYSE:UHS shares closed at $106.64 per share.
Those who purchased shares of Universal Health Services, Inc. (NYSE:UHS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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