Investigation of NMC Health Plc

NMC Health Plc (NMHLY) Accused of Misleading Shareholders 

According to the complaint for alleged violations of the Securities Exchange Act of 1934 between March 13, 2016 and March 10, 2020 , from March 13, 2016 to March 6, 2019, NMC issued its annual reports for 2015, 2016, 2017, and 2018, each time affirming the Company’s “conservative approach in risk taking” and its implementation of “controls and mitigation strategies in order to reduce those risks,” and touting NMC’s internal controls. However, on December 17, 2019, Muddy Waters Capital LLC published a report revealing that NMC had failed to disclose: (i) its lack of internal controls; (ii) (de facto) related party transactions; (iii) its true debt burden; (iv) its true cash-on-hand and asset values; and (v) its use of reverse factoring. Finally, on March 10, 2020, Financial Times and Bloomberg published articles entitled “NMC Health Discovers Almost $3 billion of Debt Hidden from is Board” and “Abu Dhabi Insurer Steps In to Help NMC Health Pay Salaries,” respectively. As a result of all of these disclosures, NMC Health currently trades at around $1.20, representing a staggering 97% decline from its class period high of $53.03

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