According to the Complaint, Nobilis Health Corp. purports to own and to manage specialty surgical hospitals, ambulatory surgery centers, and multi-specialty 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. On September 27, 2021, the Court of Appeals affirmed the District Court's Dismissal Order.