Lawsuit on Behalf of Investors in Chemed Corporation (CHE) Announced by
SAN DIEGO, Sept. 17, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation,
Inc. announces that a lawsuit is pending on behalf of certain purchasers of
Chemed Corporation (CHE) common stock over alleged violations of Federal
Securities Laws by Chemed Corporation in connection with certain allegedly
false and misleading statements made between February 15, 2010 and November
Investors who purchased shares of Chemed Corporation (CHE) in 2010 or earlier
and currently hold any of those CHE shares have certain options and should
contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or
call +1(858) 779 - 1554.
The lawsuit was initially filed in January 2012 and the plaintiff alleged that
Chemed Corporation, that operates in two segments: VITAS and Roto-Rooter, and
certain of its officers and directors with violations of the Securities
Exchange Act of 1934.
More specifically, the plaintiff claimed that defendants allegedly
misrepresented and/or failed to disclose that , among other things, the
Company engaged in a scheme to fraudulently bill Medicare for hospice services
for patients who did not qualify for hospice and fraudulently shifted the
costs of those patients from health maintenance organizations that covered
those patients prior to enrollment in hospice to the U.S. government, that a
significant portion of the Company's hospice enrollments, revenues and
earnings were the direct result of defendants' scheme to enroll ineligible
patients in hospice and fraudulently bill Medicare for hospice services, that
the Company failed to maintain adequate internal controls and procedures with
respect to hospice enrollments and Medicare billings, that the Company's
financial results were materially overstated as a result of defendants'
fraudulent scheme to enroll ineligible patients in hospice.
In November 2011 an article disclosed that a former VITAS manager had accused
Chemed of defrauding the federal government by conspiring with health insurers
to enroll Medicare patients who were not dying into hospice. The article also
discussed a U.S. Department of Justice investigation into fraudulent conduct
by VITAS. In May2013 Chemed Corporation announced the receipt of a false
claims action complaint. Chemed Corporation said that the government filed a
False Claims Act complaint against the Company and certain of its
Those who purchased shares of Chemed Corporation (CHE) have certain options
and should contact the Shareholders Foundation, Inc. by e-mail at
email@example.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring
and settlement claim filing service, which does research related to
shareholder issues and informs investors of securities class actions,
settlements, judgments, and other legal related news to the stock/financial
market. The Shareholders Foundation, Inc. is not a law firm. The information
is provided as a public service. It is not intended as legal advice and should
not be relied upon.
CONTACT: Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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