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CYH.US

id: 771

Community Health Systems (CYH) $9.5M Shareholder Settlement

The settlement funds have been distributed to claimants.

$9,500,000

Cash Settlement

M.D. Tennessee

Court

3:19-cv-00461

Case number

02/21/2017

Class period Start

02/27/2018

Class period End

10/26/2023

Claim deadline

Community Health Systems Inc. (CYH) pays $9.5 million to shareholders over class action alleging that:
the Company had understated its contractual allowances;
the Company had understated its provision for bad debts; 
as a result, the Company had overstated its net operating revenue; 
as a result, the Company had understated its net loss; and
as a result of the foregoing, the positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
All who during the period between February 21, 2017, and February 27, 2018, inclusive, purchased or otherwise acquired Community Health Systems, Inc. publicly traded common stock, and were allegedly damaged thereby, may be entitled to a payout.

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.19

Filing date

05/30/2019

Plaintiffs

Arun Bhattacharya, Michael Gaviria

Attorneys

Glancy Prongay & Murray, Pomerantz

Defendants

Wayne T. Smith, Larry Cash, Thomas J. Aaron

Judge

Hon. Eli J. Richardson

Administrator

A.B. Data Ltd

Court hearing date

10/13/2023

Exclusion deadline

09/22/2023

Objection deadline

09/22/2023

Hearing deadline

09/22/2023

Trades matching type

FIFO

Disbursement date

08/30/2024

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