Shoddy Accounting Put HCA Stock On Life Support: Suit

Law360, New York (December 13, 2011, 2:50 PM EST) -- An HCA Holdings Inc. shareholder launched a putative class action Monday in Tennessee federal court alleging the hospital operator gave investors a "distorted picture" of its financial health by reporting two major acquisitions as recapitalizations, in violation of proper accounting procedures.

Julius Daniels filed the suit against HCA and its directors on behalf of anyone who bought common stock in HCA based on a false and misleading registration statement and prospectus it issued in connection with its March 9 initial public offering, in violation of the...
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