Nobilis Health Corp. (HLTH) Health Accused of Overstating Revenue
According to the complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between May 8, 2018 and November 15, 2018, Nobilis Health Corp. (HLTH) failed to disclose that its accounts receivable and revenue were overstated and need re-evaluation and adjustment. On August 2, 2018, the truth began to emerge when Nobilis Health reported that a new accounting standard regarding account receivable had impacted revenue. On this news, Nobilis Health’s share price fell $0.20, or 17.39%, to $0.95. On November 9, 2018, Nobilis filed a Form 12b-25, stating that it was unable to timely file its quarterly report. On this news, Nobilis Health’s share price fell $0.18, more than 25%, to $0.52. Then, on November 12, 2018, Nobilis Health announced it was not in compliance with the NYSE’s listing requirements. The company’s stock fell to just $0.48 as a result, and now trades at under $0.25.
Nobilis Health Corp. (HLTH) Shareholders Have Legal Options
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