Health & Fitness
Health and Fitness
Health and Fitness
Mon, December 21, 2009
Fri, December 18, 2009 Robbins Umeda LLP Announces Investigation of NightHawk Radiology Holdings, Inc.
SAN DIEGO--([ BUSINESS WIRE ])--Shareholder rights firm Robbins Umeda LLP has begun an investigation into possible mismanagement at NightHawk Radiology Holdings, Inc. ("NightHawk" or the "Company") (Nasdaq:NHWK). Through its subsidiaries, NightHawk provides professional services, business services, and clinical workflow technology to radiology groups and hospitals in the United States. NightHawk was founded and is headquartered in Coeur d'Alene, Idaho.
Robbins Umeda LLP's investigation concerns questionable statements issued by the Company regarding its true financial condition, business, and prospects. Specifically, the investigation will determine whether NightHawk's Board of Directors lacked a reasonable basis for causing the Company to issue positive statements in light of its knowledge that: (i) the Company was experiencing a delay in transitioning The Radlinx Group ("Radlinx") physician contracts to NightHawk's compensation structure, which caused the Company to pay more compensation to Radlinx physicians than previously expected; (ii) demand for the Company's services was weakening; and (iii) the Company was experiencing difficulties in obtaining reimbursement for its services.
In addition to Robbins Umeda LLP's investigation, a lawsuit alleging violations of the Securities Exchange Act of 1934 has been filed on behalf of shareholders who purchased or otherwise acquired NightHawk stock during the period between April 10, 2007 and February 13, 2008, seeking recovery from NightHawk and certain of its officers for the damages they have suffered as a result of purchasing NightHawk's stock at allegedly inflated prices. Securities class actions like this can potentially cause additional damage to the Company.
If you purchased NightHawk stock before April 10, 2007, continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Lauren Levi at 800-350-6003 or by e-mail at [ llevi@robbinsumeda.com ].
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in shareholder derivative and securities fraud class actions. For more information about the firm, please visit our website at [ http://www.robbinsumeda.com ].
