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Nobilis Health Corp.

Case Summary

Nobilis Health Corp. Securities Litigation

Case Summary

Case Status:    DISMISSED    
On or around 12/08/2015 (Notice of voluntarily dismissal)

Filing Date: October 21, 2015

According to the law firm press release, Nobilis, together with its subsidiaries, acquires and manages ambulatory surgical centers (ASCs) and healthcare facilities in the United States. Its ASCs are licensed ambulatory surgery centers that provide scheduled surgical procedures in clinical specialties, including orthopedic surgery, podiatric surgery, ENT, pain management, gastro-intestinal, gynecology, and general surgery. As of March 18, 2015, the Company owned and managed 10 healthcare facilities in Texas and Arizona; a surgical hospital in Houston; six ambulatory surgery centers; two MRI centers; and an urgent care center.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company claimed success rates for its AccuraScope procedure which lacked recognition from any university, medical body, or insurance company; (ii) the Company had overstated its 2014 revenues by as much as $36 million; (iii) consequently, the Company had misrepresented its 2014 revenue growth rate as 161%, when it was actually only 44%; and (iv) as a result of the foregoing, Nobilis’s public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on December 8, 2015.

Company & Securities Information

Defendant: Nobilis Health Corp.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HLTH
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.

First Identified Complaint

Shawn M. Hall, et al. v. Nobilis Health Corp., et al.

COURT: S.D. Texas
DOCKET #: 15-CV-03098
JUDGE: Hon. Keith P Ellison
DATE FILED: 10/21/2015
CLASS PERIOD START: 04/02/2015
CLASS PERIOD END: 10/08/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abraham, Watkins, Nichols, Sorrels, Agosto & Friend
    800 Commerce Street, Abraham, Watkins, Nichols, Sorrels, Agosto & Friend, TX 77002
    713-222-7211 713-225-0827 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint 10/21/2015
2 U.S. District Court Civil Docket 12/08/2015
3 Notice of Voluntary Dismissal With Prejudice 12/08/2015
 
 

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