LOS ANGELES, CA / ACCESSWIRE / August 9, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Community Health Systems, Inc. ("Community Health" or "the Company") (NYSE:CYH) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Community Health issued a press release on Juny 19, 2024, "provid[ing] an update on the planned divestiture of two North Carolina hospitals." According to the Company, "On June 18, 2024, Novant Health, Inc., a North Carolina non-profit corporation ('Novant'), informed [Community Health] that Novant has decided not to move forward with the acquisition of two North Carolina hospitals. The transactions were contemplated by an Asset Purchase Agreement dated February 28, 2023 (as amended, the 'Purchase Agreement'), by and among Novant and certain subsidiaries of the Company." The Company added, "Novant's decision follows a ruling by the Fourth Circuit Court of Appeals", which "issued a temporary injunction blocking the sale to Novant Health, pending final resolution of an appeal by the Federal Trade Commission. The injunction prevented completion of the transaction until the Court of Appeals decides whether to uphold or overturn a previous District Court decision that allowed the sale to proceed."
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Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm