On or around 12/20/2017 (Court's order of dismissal)
Filing Date: October 07, 2016
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Tenet illegally paid kickbacks to induce the referral of patients to Tenet's hospitals for labor and delivery; (2) through this scheme, Tenet defrauded the Georgia Medicaid program; and (3) as a result, defendants' statements about Tenet's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
This case was transferred to the Northern District of Texas as 16-cv-03260 on November 23, 2016. The transferred case was consolidated into lead case 16-CV-2848 on February 10, 2017. An Amended Complaint was filed on April 11.
Defendants filed a Motion to Dismiss on June 12, 2017. On December 20, the Court issued an Order granting the Motion, Dismissing the Complaint with Prejudice.
Company & Securities Information
Defendant: Tenet Healthcare Corporation
Industry: Healthcare Facilities
Headquarters: United States
Ticker Symbol: THC
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
Nicholas Pennington, et al. v. Tenet Healthcare Corporation, et al.