Case Background:
On September 9, 2016, the initial complaint in this securities class action was filed against Quorum Health Corporation (“Quorum”), and certain of Quorum’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit on behalf of all persons and entities who purchased or otherwise acquired Quorum common stock between May 2, 2016 and August 10, 2016, both dates inclusive (the “Class Period”).
The complaint alleges that Defendants made misleading statements about Quorum’s goodwill and long-lived assets. The complaint also alleges that on August 10, 2016, after the market closed, Quorum announced its financial results for the second quarter of 2016, reporting a substantial net loss and an operating loss for the quarter and approximately $250 million in impairment charges to Quorum’s goodwill and long-lived assets. As a result of this news, Quorum’s stock price declined approximately $4.99, or 49.8%, from $10.02 to $5.03.
Current Status of Case:
On June 9, 2020, the parties participated in their second full-day mediation. These negotiations resulted in the agreement to settle all claims for $18,000,000. The Court approved the Settlement of this action on November 30, 2020. This action has concluded.
The deadline to file a claim is November 23, 2020. If you have any questions or need further information about this settlement, you may go to the following website, http://www.quorumhealthsecuritieslitigation.com/, or you can contact the claims administrator, Epiq Class Action & Claims Solutions, Inc. at 1-866-977-0746.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500l or via e-mail at info@ktmc.com.