Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Medical Properties Trust, Inc. (MPW)
News provided byGlancy Prongay & Murray LLP
Nov 20, 2023, 11:16 AM ET
LOS ANGELES, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming November 28, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Medical Properties Trust, Inc. (“MPW” or the “Company”) (NYSE: MPW) securities between May 23, 2023 and August 17, 2023, inclusive (the “Class Period”).
If you suffered a loss on your MPW investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Medical-Properties-Trust-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
On August 18, 2023, the Wall Street Journal (“WSJ”) reported that the Department of Managed Health Care of the Health and Human Services Agency of the State of California (“DMHC”) had issued an order to put MPW’s recapitalization transaction with Prospect Medical Holdings, Inc. (“Prospect”) on hold in order to obtain further information. The WSJ article highlighted the negative impact that halting the recapitalization transaction could have on both MPW and Prospect, especially if the deal is permanently rejected.
On this news, MPW’s stock price fell $0.57, or 7.6%, to close at $6.93 per share on August 18, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Recap Transaction was subject to regulatory approval and had in fact been placed on hold by the DMHC; (2) accordingly, MPW had misrepresented the regulatory process for the Recap Transaction’s approval; (3) as a result of the foregoing, MPW overstated the approval prospects and benefits of the Recap Transaction; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired MPW securities during the Class Period, you may move the Court no later than November 28, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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