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The Briscoe Law Firm Investigates Community Health Systems, Inc. on Behalf of Shareholders for Possible Breaches of Fiduciary D

^{Published on 2011-05-16 15:30:34 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the officers and Board of Directors of Community Health Systems, Inc. (aCommunity Healtha or aCYHa) (NYSE: CYH) during the period July 27, 2006 through April 11, 2011 (aClass Perioda).

It has been alleged in a recently-filed complaint that Community Health and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to Community Healtha™s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that: (a) Community Healtha™s growth statistics, revenues, and profits were artificially inflated due to CYHa™s improper admissions procedures designed to overbill Medicare and others for patient admissions; (b) notwithstanding defendantsa™ statements touting the financial and strategically compelling advantages that would result from CYHa™s acquisition of Tenet Healthcare, the truth was that CYHa™s growth statistics, revenues, and profits were artificially inflated, making the potential synergies arising from the acquisition much less compelling than represented; (c) defendants knew that the profit and revenue numbers forecasted to the market were illusory and unattainable; and (d) as a result, defendantsa™ statements regarding the companya™s financial performance and expected earnings were false, misleading, and lacked a reasonable basis.

If you currently own or purchased Community Health/CYH shares and would like additional information regarding this investigation, or if you have information regarding the allegations, please contact Patrick Powers, toll free at (877) 728-9607 or via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.