Amedisys AMED Stock Purchasers File Securities Fraud Class Action Lawsuit Against Amedisys, Inc. Over Medicare Reimbursement Rates
A securities fraud class action lawsuit was filed against Amedisys, Inc. in the United States District Court for the Middle District of Louisiana on behalf of a class consisting of all those who purchased or otherwise acquired the common stock of Amedisys, Inc. between February 23, 2010 and May 13, 2010 inclusive (the “Class”), alleging that Amedisys violated federal securities laws by issuing false and misleading financial information to investors, according to class action lawsuit news reports.
The Amedisys AMED securities fraud class action lawsuit complaint reportedly alleges that:
- Amedisys’s reported sales and earnings growth were materially impacted by a scheme whereby Amedisys increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare home health prospective payment system, as those excess visits were not always medically necessary;
- Amedisys’s reported sales and earnings were inflated and subject to recoupment by Medicare; and
- Amedisys was in violation of its Code of Ethical Business Conduct and compliance due to the scheme to inflate Medicare revenues.
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