Health Management Associates Securities Fraud Lawsuit (NYSE: HMA)

National Law Firm Gilman Law LLP Announces Health Management Associates Securities Fraud Lawsuit On Behalf of Shareholders

Health Management Associates Securities Fraud Lawsuit announced by Gilman Law LLP, a leading national securities law firm located in Naples, Florida, on behalf of purchasers of the common stock of Health Management Associates, Inc. (“Health Management” or the “Company”) concerning whether the company and certain of its officers and directors have violated federal securities laws.

If you purchased or otherwise acquired the common stock of Health Management Associates, Inc. (NYSE: HMA) during the period between July 27, 2009 and January 9, 2012 (the “Class Period”) and either lost money on the transaction or still hold the shares, you should contact Gilman Law LLP by March 26, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information of the Health Management Associates Securities Fraud Lawsuit.

Based in Naples, Florida, Health Management is engaged in the operation of acute care hospitals and other health care facility in non-urban areas throughout the United States.  Shares of Health Management plunged after announcements about a lawsuit by a former employee and the hospital operator’s weak outlook for the fourth quarter and 2012.  On January 9, 2012, investors learned from an analyst from CRT Capital Group that a lawsuit was filed by former compliance director, Paul Meyer. Meyer sued Health Management for wrongful termination, and filed a whistleblower lawsuit saying the company improperly admitted Medicare patients. Meyer alleged in his complaint that several HMA hospitals had won higher government payments from the Medicare program for the elderly and disabled, in part by “the submission of fraudulent billing to Medicare through the improper admission of patients as inpatients even though such patients clearly did not meet the standards for inpatient admission.”

The Company also announced that General Counsel, Timothy Parry was leaving the company. Health Management said Parry resigned effective immediately as General Counsel and secretary of the Company and he will retire from the company in March. On this news, shares of the Company dropped from $7.49 per share to close on January 9, 2012 at $6.96 per share, a decline of $.53 per share, more than 7%.  This decline wiped out more than $134.6 million in HMA’s market capitalization in a single day and lead to the filing of the Health Management Associates Securities Fraud Lawsuit. 

Health Management Associates Securities Fraud Lawsuit was filed by shareholders in the United States District Court in the Middle District of Florida and alleged that throughout the Class Period, the Company and its most senior officers and directors repeatedly touted HMA’s strong financial performance and growth, its growth in hospital admission rates, and its compliance with all applicable laws and regulations. 

The Health Management Associates Securities Fraud Lawsuit Attorneys at Gilman Law have over 32 years of experience litigating securities and other types of class action cases, and have been involved in all major aspects of securities litigation.  Gilman Law specializes in cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration. 

Health Management investors should contact Gilman Law LLP by March 26, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information of the Health Management Associates Securities Fraud Lawsuit.  For a free evaluation of your Health Management Associates Securities Fraud Lawsuit, please contact Gilman Law TOLL FREE at (888) 252-0048.

QUOTE:  “the submission of fraudulent billing to Medicare through the improper admission of patients as inpatients even though such patients clearly did not meet the standards for inpatient admission.”

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