The Medical Properties class action lawsuit seeks to represent purchasers or acquirers of Medical Properties Trust, Inc. (NYSE: MPW) securities between July 15, 2019 and February 22, 2023, inclusive (the “Class Period”). The Medical Properties class action lawsuit charges Medical Properties and certain of its top executives with violations of the Securities Exchange Act of 1934. The first-filed complaint is captioned Swärd v. Medical Properties Trust, Inc., No. 23-cv-03070 (S.D.N.Y.). A subsequently filed complaint is captioned Pirani v. Medical Properties Trust, Inc., No. 23-cv-00486 (N.D. Ala.).
If you suffered losses in Medical Properties and wish to serve as lead plaintiff in the class action against Medical Properties, please provide your information below. You can also contact Medical Properties stock loss lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Medical Properties class action lawsuit must be filed with the court no later than June 12, 2023. If you suffered losses in Medical Properties stock and have questions, please contact Medical Properties stock loss lawyer Timothy L. Miles today.
The Allegations in the Medical Properties Class Action Lawsuit
Medical Properties operates as a real estate investment trust that leases its medical facilities under long-term leases to providers of healthcare services. Prospect Medical Holdings, Inc. (“Prospect Medical”) leases and operates 13 of Medical Properties’ facilities, representing 7.3% of its total assets as of December 31, 2021.
The Medical Properties class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Prospect Medical was facing significant pressures affecting the profitability of its Pennsylvania properties; (ii) as a result, there was a significant risk that Prospect Medical would be unable to meet its rental obligations owed to Medical Properties; and (iii) Medical Properties was reasonably likely to record an impairment charge to the real estate value of the Pennsylvania properties “given the elongated timing of the Pennsylvania recovery.”
On February 23, 2023, Medical Properties reported its fourth quarter and full year 2022 financial results and disclosed an impairment of about $171 million on four properties leased to Prospect Medical as well as a write off of about $112 million in unbilled rent for Prospect Medical. On this news, Medical Properties’ stock price fell nearly 9%, damaging investors.
What is the Lead Plaintiff Process in the Class Action Against Medical Properties?
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Medical Properties stock to seek appointment as lead plaintiff in the in the Medical Properties class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Medical Properties stock, and have further questions, contact Medical Medical Properties stock loss lawyer Timothy L. Miles today who will fight to recover your damages.
What Are the Benefits of Serving as Lead Plaintiff in the Class Action Against Medical Properties?
Serving as a Lead Plaintiff in the Medical Properties class action lawsuit has several advantages and important benefits including:
How Was the Class Period Determined?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public trough a corrective disclosure.
In order to be a part of the class in the Medical Properties class action lawsuit, you must have suffered losses in Medical Properties stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated.
Contact a Medical Properties Stock Loss Lawyer Today if You Suffered Losses in Medical Properties Stock
If you suffered losses in Medical Properties stock, contact Medical Properties stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against Medical Properties.
Timothy L. Miles, Esq. is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.
The Law Offices of Timothy L. Miles
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Phone: (855) 846-6529
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