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If you purchased shares of National Health Investors Inc (NYSE: NHI) and continue to hold those NHI shares, and/or if you have any information relating the investigation including also whistleblowers and former employees, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
An investigation on behalf of current long term investors in National Health Investors Inc (Public, NYSE:NHI) over potential breaches of fiduciary duties by National Health Investors, Inc or its fiduciaries was announced.
The investigation by a law firm focuses on allegations that certain of executive officers and/or directors of real estate investment trust National Health Investors Inc engaged in an illicit multi-year scheme against Care Foundation of America, Inc. to, among other things, use Care Foundation of America, Inc's non-profit status for National Health Investors INc's own use and benefit. According to the investigation the alleged conduct resulted in Care Foundation of America, Inc filing a lawsuit against National Health Investors Inc in conjunction with Care Foundation of America, Inc's bankruptcy filing, and an investigation and intervention in the bankruptcy proceeding on Care Foundation of America, Inc's behalf by the Tennessee State Attorney General.
In December 2009, National Health Investors Inc entered into a settlement of the above mentioned lawsuit, which Care Foundation of America, Inc brought to recoup millions of dollars it alleged National Health Investors Inc had wrongfully obtained by selling six nursing homes to Care Foundation of America, Inc in 1999 for more than the nursing homes were worth and extracting above-market interest payments and other payments from Care Foundation of America, Inc.
National Health Investors Inc 12months Total Revenue increased from $60.77million in 2006 to $64.22million in 2009. Its Net Income decreased from $69.23million in 2006 to $58.14million in 2009. For the first three quarters in 2010 National Health Investors Inc reported a combined nine months Total Revenue of $59.24million with a combined nine months Net Income of $52.47million.
Shares of National Health Investors Inc (NYSE: NHI) rose from $6 in 2000 to $23.48 in 2006, and increased in 2007 to $35.50 per NHI share. NHI shares fell to $18.62 per share in November 08, but since then increased to as high as $48.09 in November 09. Recently NHI shares traded at roughly $46 per share.
