INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Mednax, Inc. Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Jul 13, 2018--Law Offices of Howard G. Smith announces an investigation on behalf of Mednax, Inc. (“Mednax” or the “Company) (NYSE: MD ) investors concerning the Company and its officers’ possible violations of federal securities laws.
On April 20, 2017, Mednax announced poor financial results for the first quarter of 2017, including missed earnings. Mednax also reported that “[s]ame-unit revenue from net reimbursement-related factors is expected to decline by 0.6 percent for the first quarter of 2017, compared to the first quarter of 2016, driven by a 90 basis point payor mix shift to government payors that impacted same-unit pricing negatively by 150 basis points.” On this news, Mednax’s share price fell $5.39, or 8.1%, to close at $61.30 per share on April 20, 2017.
Then, on July 28, 2017, during its second quarter earnings call, Mednax announced that the Company had failed to complete acquisitions of anesthesiologist practices during the quarter and that any future anesthesiologist acquisitions were unlikely, citing the “challenging” payor mix combined with “continued … growth in compensation expense for nurse anesthetists.” On this news, Mednax’s share price fell $8.76 or 15.5%, to close at $47.73 per share on July 28, 2017, thereby further injuring investors.
If you purchased Mednax securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2018.
PUB: 07/13/2018 09:35 PM/DISC: 07/13/2018 09:35 PM