Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Medical Properties Trust, Inc. (NYSE: MPW) securities between March 1, 2022 and February 22, 2023, inclusive (the “Class Period”) have until June 12, 2023 to seek appointment as lead plaintiff of the Medical Properties class action lawsuit. Captioned Swärd v. Medical Properties Trust, Inc., No. 23-cv-03070 (S.D.N.Y.), the Medical Properties class action lawsuit charges Medical Properties and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Medical Properties class action lawsuit, please provide your information here:
CASE ALLEGATIONS: 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.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Medical Properties securities during the Class Period to seek appointment as lead plaintiff of 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 Medical Properties class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Medical Properties class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Medical Properties class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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