NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of NMC Health Plc (OTC: NMHLY) resulting from allegations that NMC may have issued materially misleading business information to the investing public.
On December 17, 2019, Muddy Waters Capital issued a report stating that there are “serious doubts about the company’s financial statements, including its asset values, cash balance, reported profits, and reported debt levels.”
On this news, NMC’s ADS price plummeted $11.68, or over 33.7% to close at $23.00 on December 17, 2019.
Then on February 24, 2020, it was announced that the former CEO, Joint Chairman of the Board, and founder of NMC, B.R. Shetty, “had pledged 7 million of the company’s shares as security for debt” to Goldman Sachs and that he held a significantly smaller interest in the Company than previously stated.
On this news, NMC’s ADS price fell another 5.7%, to close at $10.81 per ADS on February 24, 2020, further damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by NMC investors. If you purchased shares of NMC please visit the firm’s website at http://www.rosenlegal.com/cases-register-1747.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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