The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of IPC The Hospitalist Company Inc (NASDAQ:IPCM) shares was launched over potential breaches of fiduciary duties by certain officers and directors at IPC The Hospitalist Company.
Investors who purchased shares of IPC The Hospitalist Company Inc (NASDAQ:IPCM) in 2010 or earlier and currently hold any of those NASDAQ:IPCM shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain IPC The Hospitalist officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On December 9, 2013, the Company disclosed that in June 2010, IPC The Hospitalist Company, Inc. received a civil investigative demand (CID) issued by the Department of Justice (DOJ), U.S. Attorney’s Office for the Northern District of Illinois. IPC The Hospitalist Company Inc said the civil investigative demand requested information concerning claims that IPC The Hospitalist Company Inc have submitted to Medicare and Medicaid between January 1, 2003, through June 4, 2010. Furthermore, IPC The Hospitalist Company Inc disclosed that on December 6, 2013, the U.S. District Court for the Northern District of Illinois (Chicago) lifted the seal on a previously filed civil False Claims Act case related to the June 2010 investigation. IPC The Hospitalist Company Inc said that the unsealed Court docket includes the whistleblower’s Complaint, a Notice of Election to Intervene filed by the federal government and a Notice of Election to Decline Intervention filed by the State of Illinois and 12 of other states that participated in the investigation.
Shares of IPC The Hospitalist Company Inc declined from almost $63 in November 2013 to as low as $40.26 per share on May 1, 2014.
On June 24, 2014, NASDAQ:IPCM shares closed at $40.25 per share.
Those who purchased shares of IPC The Hospitalist Company Inc (NASDAQ:IPCM) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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