Nobilis Health Corp. (HLTH) Accused of Filing Inaccurate Financial Statements

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 would need re-evaluation and adjustment. Nobilis began to reveal the extent of its financial mishaps on August 2, 2018, when the company reported that its revenue for 2Q18 was reduced due to a $2.4 million adjustment to its accounts receivable. Then, on November 9, 2018, Nobilis filed for additional time to complete its Form 10-Q while Nobilis and its auditor completed their review of the company's financial statements. Just three days later, Nobilis admitted that the company was not in compliance with the NYSE's listing requirements. Since Nobilis' troubles became public, the company's stock has declined nearly 60% and currently trades at $0.46 per share.

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