NEW YORK, NY / ACCESSWIRE / August 22, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Medical Properties Trust, Inc. ("MPT" or "the Company") (NYSE:MPW). Investors who purchased MPT securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/mpw.
The investigation concerns whether MPT has violated federal securities laws.
Investigation Details:
On May 23, 2023, MPT announced a transaction pursuant to which it would take an equity stake in Prospect Medical's ("Prospect") managed care business in lieu of cash payment by Prospect of hundreds of millions of dollars in outstanding loans, and unpaid rent and interest owed to MPT. When MPT reported its second quarter results on August 8, 2023, it stated that the proposed transaction with Prospect had reduced losses by $68 million based on the receipt of an equity stake in Prospect's managed care business in lieu of payment of contractually owed rent and interest. Then, on August 18, 2023, the Wall Street Journal published an article reporting that the recapitalization transaction with Prospect had been placed on hold as of July 20, 2023, pursuant to an order issued by a California regulatory agency. MPT did not disclose the regulator's order when it reported second quarter results on August 8, 2023, or in its quarterly report filed on August 9, 2023, with the Securities and Exchange Commission. On this news, MPT's stock price fell $0.57 per share, or 7.6%, to close at $6.93 per share on August 18, 2023.
What's Next?
If you are aware of any facts relating to this investigation or purchased MPT securities, you can assist this investigation by visiting the firm's site: www.bgandg.com/mpw. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC