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Chemed Corporation (NYSE: CHE) Investor Securities Class Action Lawsuit 01/12/2012

  • If you purchased shares of Chemed Corporation (NYSE: CHE), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Chemed Corporation
Security
NYSE: CHE

Case Name
Chemed Shareholder Class Action Lawsuit 01/12/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Ohio

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
chemed_corporation_settlement_notice_4_2014.pdf
Settlement Proof
chemed_corporation_settlement_proof_4_2014.pdf
Filed Complaint
chemed_corporation_original_filing_edited_1_2012.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$6,000,000.00
Deadline to Participate in Settlement

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Summary

March 27, 2014 - The court preliminarily approved the settlement.
February 7, 2014 - Parties filed a stipulation of settlement.

June 18, 2012 - The lead plaintiffs filed an amended consolidated complaint.

April 9, 2012 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

January 12, 2012 - An investor in shares of Chemed Corporation (NYSE: CHE) filed a lawsuit in the U.S. District Court for the Southern District of Ohio Western Division against Chemed Corporation over alleged Violations of Federal Securities Laws.

According to the complaint the plaintiff alleged on behalf of purchasers of Chemed Corporation (NYSE: CHE) common stock during the period between February 15, 2010 and November 16, 2011, that Chemed Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company's business and prospects.

Chemed Corporation reported that its annual Revenue rose from $1.1billion in '07 to $1.28billion in 2010 and its Net Income increased from $61.64million for ’07 to $81.83million in 2010.

Shares of Chemed Corporation (NYSE: CHE) rose from as low as $35.30 in March ’09 to over $71 per share in may 2011.

Then on November 16, 2011, a media outlet reported that Vitas Healthcare Corp., a unit of Chemed Corporation, has been accused by a whistleblower in lawsuit of a medicare HMO conspiracy. Additionally, the Department of Justice (“DOJ”) reportedly is seeking internal Vitas Healthcare Corp. documents in an investigation focused on alleged abuses of Federal health-insurance programs. According to the article “the government has told the court it suspects Vitas of ‘an extensive scheme’ to defraud Medicare and Medicaid of ‘hundreds of millions of dollars’ by falsifying records and hospice certifications.”

Following the report shares of Chemed Corporation (NYSE: CHE) fell from $57.52 on Nov. 15, 2011 to as low as $48.43 on November 16, 2011 and closed on Friday, Nov. 18 at $49.77.

chemed_corporation_original_filing_edited_1_2012.pdf
Date Settled