NEW YORK — Safirstein Metcalf LLP announces that a class action has been filed against Envision Healthcare Corporation (“Envision” or the “Company”) (EVHC) and certain of its officers in the United States District Court, Middle District of Tennessee, on behalf of a class consisting of investors who purchased or otherwise acquired Envision securities between March 2, 2015 and July 21, 2017 (“Class Period”).
If you purchased or acquired Envision securities during the class period, and would like more information about the shareholder class action, please contact Safirstein Metcalf LLP at 1-800-221-0015, or email info@SafirsteinMetcalf.com.
If you wish to serve as lead plaintiff, you must move the Court no later than October 3, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) EmCare routinely arranged for patients who sought treatment at in-network facilities to be treated by out-of-network physicians; (ii) EmCare accordingly billed these patients at higher rates than if the patients had received treatment from in-network physicians; (iii) the Company’s statements attributing EmCare’s Class Period growth to other factors were therefore false and/or misleading; (iv) Envision’s EmCare revenues were likely to be unsustainable after the foregoing conduct came to light; and (v) as a result of the foregoing, Envision’s public statements were materially false and misleading at all relevant times.
On July 24, 2017, The New York Times reported that hospitals associated with Envision’s subsidiary EmCare were disproportionately likely to engage in “surprise billing,” in which patients who sought treatment at in-network facilities were treated by out-of-network physicians and subsequently billed at higher rates.
Following this news, Envision’s share price fell $2.33, or 3.72%, to close at $60.28 on July 24, 2017.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
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Safirstein Metcalf LLP
Peter Safirstein, Esq.
New York, NY 10001