Lawsuit Overview
December 8, 2015 - The case was voluntarily dismissed.
October 21, 2015 (Shareholders Foundation) - An investor in shares of Nobilis Health Corp (NYSEMKT:HLTH) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Nobilis Health Corp in connection with certain allegedly false and misleading statements made between April 2, 2015 and October 8, 2015. According to the complaint the plaintiff alleges on behalf of purchasers of Nobilis Health Corp (NYSEMKT:HLTH) common shares between April 2, 2015 and October 8, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 2, 2015 and October 8, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Nobilis Health Corp claimed success rates for its AccuraScope procedure which lacked recognition from any university, medical body, or insurance company, that Nobilis Health Corp had overstated its 2014 revenues by as much as $36 million, that consequently, Nobilis Health Corp had misrepresented its 2014 revenue growth rate as 161%, when it was actually only 44%, and that as a result of the foregoing, Nobilis Health Corp’s public statements were materially false and misleading at all relevant times. Nobilis Health Corp reported that its annual Total Revenue rose from $14.38 million in 2011 to $84.03 million in 2014 and that its Net Loss of $2.17 million in 2011 turned into a Net income of $6.72 million in 2014. Shares of Nobilis Health Corp (NYSEMKT:HLTH) grew from under $1.12 per share in August 2014 to as high as $7.20 per share in April 2015. On October 9, 2015, a report was published on Nobilis Health Corp asserting, among other things, accounting red flags, questionable marketing practices and substantial insider sales.