Community Health Systems, Inc. ("CHS" or the Company) owns and manages a large chain of general hospital and other healthcare clinics in the United States.

According to a press release dated May 9, 2011, the action charges CHS and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, the Company's financial results were artificially inflated by virtue of the fact that CHS was systematically overcharging Medicare, one of its principal sources of revenue.

On December 28, 2011, the Court issued an order adopting Magistrate Judge Knowles' Report and Recommendation. The cases are consolidated under lead case 3:11-cv-00433. Lead Plaintiff and lead Counsel are approved.

On July 13, 2012, Plaintiffs filed their consolidated class action Complaint.

After mediation attempts were unsuccessful, Plaintiffs filed an amended Complaint on October 15, 2015.

On June 16, 2016, the Court issued an order granting Defendants' motion to dismiss with prejudice. Lead Plaintiff filed a notice appealing the Court's decision on June 27. On December 13, 2017, the Court of Appeals issued a memorandum reversing the decision of the District Court and remanding for proceedings consistent with their opinion.

On February 9, 2018, Defendants filed a motion to dismiss the amended Complaint. On May 7, lead Plaintiff filed a motion for class certification. On September 24, the Court issued an order denying Defendants' motion to dismiss. On April 2, 2019, the Court issued an order partially granting lead Plaintiff's motion for class certification. On July 26, the Court issued an order granting lead Plaintiff's motion for class certification.

On January 7, 2020, the parties notified the Court that they had reached an agreement in principle to settle the case. The parties entered into a Stipulation of Settlement on January 21. On January 30, the Court granted preliminary approval of the Settlement. On June 22, the Court granted final approval of the Settlement and entered Final Judgment.

The Court issued an order approving distribution of the net Settlement fund on May 3, 2022.