hanger inc (HGR) Key Developments
Hanger, Inc. Announces Management Changes
Jan 5 15
Effective January 1, 2015, Thomas E. Kiraly, Executive Vice President of Hanger, Inc., succeeded George E. McHenry as Chief Financial Officer of the company and became the company’s principal financial officer. As previously disclosed, Mr. McHenry retired from the company on December 31, 2014. Mr. Kiraly joined the company in October 2014 as Executive Vice President. Mr. Kiraly brings to the company over twenty-five years of experience leading financial and accounting operations. Prior to joining the company, Mr. Kiraly served as the Executive Vice President, Chief Financial Officer and Treasurer of Sheridan Healthcare, Inc.
Hanger, Inc. Postpones Release of Third Quarter 2014 Financial Results
Nov 17 14
Hanger, Inc. announced that it is postponing the release of its third quarter 2014 financial results and is cancelling its previously scheduled earnings conference call to allow additional time for the completion and review of its third quarter financial statements. The Company will release its third quarter financial results and reschedule its conference call after the completion and review of its third quarter financial statements.
Brower Piven Commences a Class Action Lawsuit against Hanger, Inc
Nov 14 14
The securities litigation law firm of Brower Piven, A Professional Corporation, announced that a class action lawsuit has been commenced in the United States District Court for the Western District of Texas on behalf of purchasers of Hanger, Inc. securities during the period between August 1, 2013 and August 7, 2014, inclusive. Investors who wish to become proactively involved in the litigation have until January 12, 2015 to seek appointment as lead plaintiff.
Hanger, Inc. to Report Q3, 2014 Results on Nov 17, 2014
Nov 13 14
Hanger, Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Nov 17, 2014
Bernstein Litowitz Berger & Grossmann LLP Announces Securities Class Action Suit against Hanger, Inc. and Certain of its Executive Officers
Nov 12 14
Hanger, Inc. announced that it has filed a securities class action lawsuit on behalf of the City of Pontiac General Employees' Retirement System against certain of the executive officers of Hanger, Inc. The action, which was filed in the Western District of Texas, asserts claims under the Securities Exchange Act of 1934 on behalf of investors in Hanger securities during the period of August 1, 2013 August 7, 2014, inclusive. The complaint alleges that during the Class Period defendants misrepresented and/or concealed the effect that an increase in Medicare audits had on Hanger's business, including on its reserves for bad debt and accounts receivable. On August 7, 2014, the Company announced a shocking 23% decline in its earnings per share due to the pressure it experienced from Medicare audits. On this news, the price of Hanger stock declined 25% from $29.87 per share to $22.48 per share.