Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Health Management Associates, Inc.

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  • Did you buy any of your shares between July 27, 2009 and January 9, 2012?
  • Did you lose money in your investment in Health Management Associates?
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R & L is national law firm with decades of combined legal experience. R & L is investigating claims brought in a securities fraud class action complaint against Health Management Associates, Inc. concerning whether Health Management Associates and certain of the Company’s directors and/or officers made materially false and misleading statements during the period between July 27, 2009 and January 9, 2012, inclusive (the “Class Period”), concerning the Company's financial performance and growth, its increase in hospital admission rates, and its compliance with all applicable laws.  These misrepresentations and omissions artificially inflated the price of the Company's stock throughout the Class Period.

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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Health Management Associates, Inc. (NYSE: HMA) For Violations Of the Federal Securities Laws

Rigrodsky & Long, P.A. announces that a class action lawsuit has been filed in the United States District Court for the Middle District of Florida on behalf of purchasers the common stock of Health Management Associates, Inc. (“Health Management” or the “Company”) (NYSE: HMA) between July 27, 2009 and January 9, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 (the “Complaint”) against the Company and certain of its officers and/or directors. 

Health Management is in the business of operating acute care hospitals and other health care facilities in non-urban areas, primarily in the southeast and southwest areas of theUnited States.  The Complaint alleges that during the Class Period, Health Management and certain of the Company’s directors and/or officers made materially false and misleading statements concerning its financial performance and growth, its increase in hospital admission rates, and its compliance with all applicable laws.  Specifically, it is alleged that investors began to learn the truth on August 3, 2011, when it was disclosed that the United States Department of Health and Human Services, Office of Inspector General, had issued a subpoena requesting “information on our physician referrals as well as ownership and management at our whole-hospital physician joint ventures, among other items.”  Then, on January 9, 2012, an analyst disclosed that Health Management’s former compliance officer, Paul Meyer, had filed a lawsuit against the Company for violation of Florida’s Private Sector Whistleblower’s Act.  The Complaint alleges that Meyer’s lawsuit claims he was unlawfully terminated after uncovering serious Medicare fraud at several Health Management facilities.

As a result of the January 9, 2012 disclosure, the price of Health Management’s common stock dropped $0.53 per share, or more than 7%, on heavy trading volume. 

If you wish to serve as lead plaintiff, you must move the Court no later than March 26, 2012.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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