NEW YORK, July 11, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Mednax, Inc. ("Mednax" or the "Company") (NYSE: MD). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Mednax and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 20, 2017, Mednax announced negative financial results for the first quarter of 2017, including missed earnings. Mednax cited negative trends including "payor mix" degradation, lower volume of newborn infant patients, and wage inflation, with half of the financial impact related to business in North Carolina and Texas. On this news, Mednax's stock price fell $5.39 per share, or 8.1%, to close at $61.30 per share on April 20, 2017. Then, on July 28, 2017, during its second quarter earnings call with investors and analysts, Mednax announced that the Company had failed to complete any acquisitions of anesthesiologist practices during the quarter and that any future anesthesiologist acquisitions were unlikely, citing the "challenging" payor mix combined with "continued . . . growth in compensation expense for nurse anesthetists." On this news, Mednax's stock price fell $8.76 per share, or 15.5%, to close at $47.73 per share on July 28, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP