AdaptHealth Corp.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
It is alleged in this lawsuit that, throughout the Class Period, defendants made misleading and false statements and failed to disclose that: (i) AdaptHealth had misrepresented its organic growth trajectory by inflating past organic growth numbers retroactively without disclosing the changes, in violation of U.S. Securities and Exchange Commission (“SEC”) regulations; (ii) AdaptHealth had materially overstated its financial prospects, accordingly; and (iii) AdaptHealth’s public statements were materially misleading and false at all relevant times, as a result.
A report was published by Jehoshaphat Research on July 19, 2012 alleging that AdaptHealth is a “roll-up” company, or a company that is built primarily through the acquisition of smaller companies with common services or products, obscuring its organic growth by “[r]etroactively changing past organic growth numbers to be higher, with no disclosure about the change.” The report stated specifically that “[w]hile management claims (and consensus estimates reflect) an organic growth trajectory of 8-10%, AHCO is in fact experiencing double-digit organic decline. It is also, in our opinion, taking steps to obscure that decline which are expressly forbidden by the SEC.” It is suggested in this report that AdaptHealth’s manipulation of its organic growth trajectory was “a blatant violation of non-GAAP disclosure rules, for which companies get into huge trouble.” AdaptHealth’s stock price fell nearly 6% on this news, damaging investors.
