November 17, 2020 - An amended complaint was filed.

June 25, 2020 - An investor in shares of Brookdale Senior Living Inc. (NYSE: BKD) filed a lawsuit in the U.S. District Court for the Middle District of Tennessee over alleged violations of Federal Securities Laws by Brookdale Senior Living Inc. in connection with certain allegedly false and misleading statements made between August 10, 2016, and April 29, 2020.

Brentwood, TN based Brookdale Senior Living Inc. owns and operates senior living communities in the United States. Brookdale Senior Living Inc. reported that its annual Total Revenue declined from over $4.53 billion in 2018 to over $4.05 billion in 2019, and that its Net Loss declined from $528.25 million in 2018 to $267.93 million in 2019. As of February 1, 2020, Brookdale Senior Living Inc owned 356 communities, leased 307 communities, managed seventy-seven communities on behalf of third parties, and three communities for which it has an equity interest. Brookdale Senior Living Inc operates independent living, assisted living and dementia-care communities and continuing care retirement centers ( CCRCs ). Through its ancillary services programs, the Company also offers a range of outpatient therapy, home health, personalized living, and hospice services.

On April 30, 2020, media outlets reported that a proposed class action had been filed against Brookdale Senior Living Inc accusing the Company of, among other things, “chronically insufficient staffing” at its facilities in an effort to meet financial benchmarks. According to the lawsuit, Brookdale Senior Living Inc misled residents and their families when it promised to provide basic care and daily living services. The lawsuit also claims that the proposed class of plaintiffs have not received the care and services they paid for. The lawsuit asks for damages and Brookdale Senior Living Inc to stop the unlawful and fraudulent practices. Shares of Brookdale Senior Living Inc (NYSE: BKD) declined from $3.98 per share on April 9, 2020, to as low as $2.39 per share on May 14, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Brookdale Senior Living Inc. (NYSE: BKD) common shares between August 10, 2016, and April 29, 2020, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 10, 2016, and April 29, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that Brookdale's financial performance was sustained by, among other things, the Company's purposeful understaffing of its senior living communities, that the foregoing conduct subjected Brookdale to an increased risk of litigation and, once revealed, was foreseeably likely to have a material negative impact on the Company's financial results and reputation, that as a result, the Company's financial results were unsustainable, and that as a result, the Company's public statements were materially false and misleading at all relevant times.