Investigation Overview
An investigation on behalf of investors in Almost Family, Inc. (NASDAQ:AFAM) concerning possible shareholder claims based on potential violations of Federal securities laws by Almost Family, Inc and others was announced.
Almost Family, Inc, located in Louisville, KY, along with its subsidiaries, is a provider of home health services. Almost Family, Inc. reported in 2007 $130.91million in Total Revenue, in 2008 $.211.52million, and in 2009 $297.85million.
According to the investigation by a law firm the investigation on behalf of Almost Family investors focuses on allegations that certain statements made by Almost Family, Inc. between August 5, 2009 and June 30, 2010 concerning its business and operations were materially false and/or misleading. On July 1, 2010, Almost Family announced it received a civil subpoena for documents and notice of investigation from the U.S. Securities and Exchange Commission (SEC) seeking documents related to Almost Familys home health care services and operations, including reimbursements under the Medicare home health prospective payment system, since January 1, 2000. AFAM shares declined from $36 per share on June 30, 2010, to almost $29 per share on July 01, 2010. Shares of Almost Family, Inc. (AFAM) traded recently at $29.25 per share, down from its 52weekHigh of $44.12 per share and over $51 per share in 2008.