Case Page

 

Case Status:    DISMISSED    
On or around 04/05/2017 (Other)

Filing Date: November 12, 2014

According to the law firm press release, 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.

On February 10, 2015, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead Plaintiff filed an amended complaint on May 1.

On April 1, 2016, the Court issued an Order granting Defendant's Motion to Dismiss. Plaintiffs were given leave to file an amended complaint. Plaintiffs filed a second amended complaint on April 20. Plaintiffs filed a third amended complaint on July 1. Defendants filed a motion to dismiss third amended complaint on September 15.

On January 26, 2017, the Court issued an Order granting Defendants' Motion to Dismiss with prejudice. Lead Plaintiffs filed a Notice appealing this decision on February 24.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HGR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: W.D. Texas
DOCKET #: 14-CV-01026
JUDGE: Hon. Sam Sparks
DATE FILED: 11/12/2014
CLASS PERIOD START: 08/01/2013
CLASS PERIOD END: 08/07/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  2. Martin & Drought, P.C.
    300 Convent St. Bank of America Plaza, 25th Floor , Martin & Drought, P.C., TX 78205
    (210) 227-7591 ·
No Document Title Filing Date
COURT: W.D. Texas
DOCKET #: 14-CV-01026
JUDGE: Hon. Sam Sparks
DATE FILED: 07/01/2016
CLASS PERIOD START: 07/27/2011
CLASS PERIOD END: 02/26/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kendall Law Group, LLP
    3232 McKinney, Ste 700, Kendall Law Group, LLP, TX 75204
    214.744.3000 214.744.3000 ·
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date