Home Healthcare Class Action Lawsuit Filed in West Kentucky District

Posted on Sep 09, 2010

September 7, 2010 - Investors in Almost Family Inc. have been approved for the filing of a class action lawsuit against the home healthcare company.

According to Marketwire, the plaintiffs are charging Almost Family and some of its officers with violations of the Securities Exchange Act of 1934. The complaint alleges that Almost Family misled investors by failing to disclose that they deliberately increased the number of home therapy visits to receive increased Medicare funding, thus materially inflating the company's sales and earnings.

The result of this deceptive behavior caused the publically traded Almost Family Inc. to have artificially inflated stock prices, reaching a high of $43.96 per share on April 29, 2010. Around this time, The Wall Street Journal published an article on home healthcare services which questioned the practices of companies such as Almost Family.

This article revealed that healthcare companies were billing more of the higher profit home therapy visits for Medicare patients and less of the lower profit services. On July 1, Almost Family announced they had received a civil subpoena and notice of investigation from the Securities and Exchange Commission. Their stock dropped $3.88 per share that day.

The plaintiffs in the class action lawsuit seek to recover damages for all investors who purchased or acquired common stock of the Almost Family Inc. company during the period of November 4, 2009 and June 30, 2010. The class action lawsuit has been filed in the United States District Court for the Western District of Kentucky and is open for interested parties to join as lead plaintiff until October 4, 2010.

If you have been wronged by a business or corporation, then you need to have a strong advocate in your corner. Attorneys, Mark K. Gray and Matthew L. White, along with their associates will use their knowledge of class action litigation to build your case, no matter the size or scope. Their experienced team will fight for the compensation you deserve by seeking out others who have been similarly victimized. Contact us today to schedule an evaluation of your case - 1-888-450-4456.

Matthew L. White
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Founder & Partner of Louisville Personal Injury Law Firm Gray & White Law