Chemed CHE Lawsuit
Chemed (NASDAQ: CHE) is being accused of defrauding medicare in a whistelblower lawsuit. This fraud has resulted in shareholder losses. If you are an investor in Chemed and have lost money call our law firm right now. You have very limited window in which to act.
What happened to Chemed?
Chemed, through its subsidiary Vitas, provides hospice care. On November 16, 2011, it was reported that a Vitas Healthcare Corp. manager accused the hospice chain of defrauding the federal government by conspiring with health insurers to put Medicare patients into hospice who were not dying. Vitas is a subsidiary of Chemed and is the largest U.S. provider of hospice care in the country.
The allegations against Vitas were revealed when a whistle blower lawsuit filed in Dallas federal court was unsealed earlier in November 2011. The U.S. Department of Justice is also seeking internal Vitas documents in an investigation focused on alleged abuses of federal health-insurance programs.
The whistleblower lawsuit alleges Vitas conducted "an extensive scheme" to defraud Medicare and Medicaid of hundreds of millions of dollars by falsifying records and faking hospice certifications.
This news caused Chemed stock to drop 15% on November 16, 2011 to $50.65 per share, down from the previous day's close of $57.52 per share.
If you are a Chemed shareholder,
Kyros Law is a Boston-based law firm with significant national experience representing investors in shareholder class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please our Kyros Law web site.
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