Hospital Group Hid Whistleblower Suit: Investors

Law360, New York (January 27, 2012, 2:29 PM EST) -- Health Management Associates Inc. shareholders filed a class action in Florida federal court Friday claiming stock prices plummeted after it was revealed the hospital group had used Medicare fraud to inflate prices and hidden a wrongful-termination whistleblower suit by an employee who uncovered the alleged fraud.

The shareholders, led by named plaintiff Milen Sapssov, say that between Jul. 27, 2009 and Jan. 9 of this year, the company and its most senior officers touted the company's solid financial performance and growth in hospital admissions rates, but...
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