Abraham, Fruchter & Twersky, LLP Announces Investigation of Assisted Living
NEW YORK -- May 04, 2012
Abraham, Fruchter & Twersky, LLP has commenced an investigation into possible
violations of federal securities laws on behalf of purchasers of the common
stock of Assisted Living Concepts, Inc. (“Assisted Living” or the “Company”)
On May 3, 2012, Assisted Living issued a press release announcing the Company
would delay its previously announced May 3, 2012 earnings release and
conference call discussion regarding its 2012 first quarter financial results.
Then on May 4, 2012, the Company issued a press release indicating it has
retained counsel to investigate “possible irregularities” in connection with
its lease with Ventas Realty, Limited Partnership (“Ventas Realty”), the
landlord for eight assisted living facilities operated by Assisted Living. The
Company also revealed that Ventas Realty commenced a lawsuit against it on
April 26, 2012 in the United States District Court for the Northern District
of Illinois seeking a declaratory judgment that Assisted Living has breached
its obligations under the building lease and forfeited its right to
possession. Specifically, Ventas Realty alleges that Assisted Living’s receipt
of notices of intent to revoke permits from state regulators with respect to
its licenses to operate three assisted living facilities in Georgia and
Alabama subject to the lease constitutes a violation of the lease.
On this news, the price per share of Assisted Living is currently trading at
an intraday low of $16.18, down $2.99, or more than 15% from the previous
day’s close, on heavy trading volume.
If you own the common stock of Assisted Living and purchased your shares
before May 4, 2012, and you would like to discuss these claims or if you have
any questions concerning this notice or your rights as a potential class
member or lead plaintiff, you may contact: Jack Fruchter, Esq., or Christopher
Matthews, Esq., of Abraham, Fruchter & Twersky, LLP toll free at (800)
440-8986, or via e-mail at, respectively, firstname.lastname@example.org or
email@example.com, or visit the firm’s website at
http://aftlaw.com/cases/assisted-living-concepts-inc/ to learn more about this
Abraham, Fruchter & Twersky, LLP has extensive experience in securities class
action cases, and the firm has been ranked among the leading class action law
firms in terms of recoveries achieved by surveys of class action law firms
conducted by Institutional Shareholder Services.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
Abraham, Fruchter & Twersky, LLP
Jack Fruchter, Esq. / Christopher Matthews, Esq.
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