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Case Center
LHC Group, Inc.
- Issue: Securities fraud
Introduction
Lieff Cabraser is investigating potential violations of securities laws by LHC Group, Inc. ("LHC" or the "Company") (Nasdaq: LHCG).
In May 2010, the U.S. Senate Finance Committee launched an investigation into whether LHC and other home health care companies deliberately boosted the number of home therapy visits they provided to patients in order to trigger higher reimbursement rates under Medicare. The investigation was initiated after a Wall Street Journal analysis suggested that LHC and other home health care companies were taking advantage of Medicare's reimbursement system by providing medically unnecessary patient care.
On September 30, 2011, LHC announced that it will pay $65 million to settle an inquiry by the federal government into whether LHC improperly billed for home health services that were medically unnecessary. As part of the settlement, LHC entered into a corporate integrity agreement with the Department of Health and Human Services.
On October 3, 2011, the Senate Committee released a report on its investigation that found that LHC and two other home health care companies engaged in practices that "at best represent abuses of the Medicare home program" and "[a]t worst, they may be examples of for-profit companies defrauding the Medicare home health program at the expense of taxpayers." With respect to LHC, the Committee found that the company engaged in a pattern of practice designed to achieve the most profitable number of therapy visits and that LHC's senior executives and management encouraged such practices. On October 3, 2011, the price of LHC shares fell $1.42 per share, or 8.3 percent, to close at $15.64, causing LHC shareholders to suffer significant losses.
Contact Lieff Cabraser
LHC shareholders who wish to learn more about the investigation, and persons with information related to the investigation, should click here to contact us or telephone Sharon M. Lee of Lieff Cabraser toll-free at (800) 541-7358.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs' law firms in the United States to receive this honor for the last nine consecutive years. Learn more...
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