Community Health Systems, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Community Health Systems, Inc. |
Ticker: | Ticker: CYH |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Community Health Systems, Inc. (“Community Health” or the “Company”) (NASDAQ:CYH). The investigation concerns whether Community Health and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On February 21, 2024, Community Health disclosed that it was under investigation by the Department of Justice in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC. The Company revealed that it had received a Civil Investigative Demand on January 11, 2024 for “documents and information relating to a variety of subjects, including practices and procedures related to utilization review, inpatient admissions and inpatient dialysis at [the Company’s] hospitals.” On this news, the price of Community Health shares declined by $1.14 per share, or approximately 28.2%, from $4.04 per share on February 20, 2024 to close at $2.90 per share on February 21, 2024.
On February 21, 2024, Community Health disclosed that it was under investigation by the Department of Justice in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC. The Company revealed that it had received a Civil Investigative Demand on January 11, 2024 for “documents and information relating to a variety of subjects, including practices and procedures related to utilization review, inpatient admissions and inpatient dialysis at [the Company’s] hospitals.” On this news, the price of Community Health shares declined by $1.14 per share, or approximately 28.2%, from $4.04 per share on February 20, 2024 to close at $2.90 per share on February 21, 2024.