Stockholders v Skilled Healthcare Group, Inc.
Stockholders File Lawsuit Against Skilled Healthcare Group, Inc.
According to a press release dated July 24, 2009, the complaint charges Skilled Healthcare and certain of its officers and directors violated the federal securities laws by misrepresenting the true amount of its income in its IPO prospectus and in other SEC filings and public communications. In an announcement dated June 9, 2009, Skilled Healthcare announced that the Company's prior financial statements for the annual and quarterly periods between January 1, 2006 and March 31, 2009 should no longer be relied upon and that the Company expected to restate those financial statements. According to the announcement, Skilled Healthcare discovered errors relating to its accounting for reserves on its accounts receivable. The Company estimated that the cumulative charges against after-tax earnings in the aggregate would be between $8 million and $9 million. The Complaint alleges that this adverse disclosure caused the value of Skilled Healthcare's stock to fall, damaging investors.
If you bought Skilled Healthcare Group, Inc. securities and would like to obtain information about the Skilled Healthcare Group, Inc. lawsuit, then you are invited to call Kahn Swick Foti, LLC toll free at (866) 467-1400 to speak with an attorney or visit www.ksfcounsel.com.
