N@N

Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Gentiva Health Services, Inc.

^{Published on 2010-11-12 19:21:26 - Market Wire}
 

WAYNE, Pa.--([ BUSINESS WIRE ])--Ryan & Maniskas, LLP ([ www.rmclasslaw.com/cases/gtiv ]) announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of purchasers of the common stock of Gentiva Health Services, Inc. ("Gentiva" or the "Company") (NASDAQ: GTIV) between July 31, 2008 through July 20, 2010 (the "Class Period").

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at [ rmaniskas@rmclasslaw.com ] or visit: [ www.rmclasslaw.com/cases/gtiv ].

The complaint alleges Gentiva and certain of its officers and directors with violations of federal securities laws. Specifically, it is alleged that defendants reported revenue and earnings growth that were, in large part, based on material increases in Medicare revenues and admissions in the Company's Home Health segment, but that defendants failed to disclose that Gentiva improperly increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare PPS.

On May 13, 2010, the Wall Street Journal reported that the United States Senate Finance Committee launched an investigation into the practices of companies that provide in-home therapy visits reimbursed by Medicare, including Gentiva. On July 13, 2010, Gentiva disclosed that the Securities and Exchange Commission commenced a similar investigation. Finally, on July 20, 2010, Gentiva reduced its full-year revenue guidance. On July 21, 2010, Gentiva shares fell approximately 8%, to close at $19.96.

If you are a member of the class, you may, no later than January 7, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts 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. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: [ www.rmclasslaw.com/cases/gtiv ], or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at [ rmaniskas@rmclasslaw.com ]. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: [ www.rmclasslaw.com ].