Medical Properties Trust, Inc. (NYSE: MPW)
NEW YORK, NY – October 4, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a federal securities class action lawsuit has been filed against Medical Properties Trust, Inc. (“MPT” or the “Company”) (NYSE: MPW) in the United States District Court for the Southern District of New York on behalf of all
persons and entities who purchased or otherwise acquired MPT securities between May 23, 2023 and August 17, 2023, both dates inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than November 28, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
According to the filed complaint, on May 23, 2023, MPW issued a press release announcing that it had entered into a recapitalization transaction (the “Recap Transaction”) with Prospect Medical Holdings, Inc. (“Prospect”), a health care management services organization. Pursuant to the Recap Transaction, in relevant part, MPT would take an equity stake in Prospect’s managed care business, PHP Holdings, LLC (“PHP”), in lieu of a cash payment of outstanding loans and accrued but unpaid rent and interest owed by Prospect to MPW. The Recap Transaction was subject to regulatory approval by the Department of body responsible for governing managed health care plans in California.
It is alleged that during the class period, defendants failed to disclose to investors that:
- the Recap Transaction was subject to regulatory approval and had in fact been placed on hold by the DMHC;
- Accordingly, MPW had misrepresented the regulatory process for the Recap Transaction’s approval;
- as a result of the foregoing, MPW overstated the approval prospects and benefits of the Recap Transaction; and
- as a result, the Company’s public statements regarding the Recap Transaction were materially false and misleading at all relevant times
On this news, MPW’s stock price fell $0.57 per share, or 7.6%, to close at $6.93 per share on August 18, 2023.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 11/30/2023