According to the Complaint, Nobilis purports to own and to manage specialty surgical hospitals, ambulatory surgery centers, and multispecialty clinics.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that Defendants failed to disclose to investors: (1) that the Company’s accounts receivable was overstated; (2) that, as a result, the Company’s revenue was overstated; (3) that, as a result of the required adjustments, the Company’s quarterly report would not be timely filed; (4) that, as a result, the Company would not be in compliance with NYSE listing requirements; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

This case was voluntarily dismissed on January 31, 2019. A related case continues under Docket 19-CV-00145.

On April 2, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on May 17. Defendants filed a Motion to Dismiss the amended Complaint on June 7. On October 24, the issuer Defendant filed a Notice of Suggestion of Bankruptcy. On September 14, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on October 13.