Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Hanger, Inc. (HGR) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Hanger, Inc. (“Hanger” or the “Company”) (NYSE: HGR) of the January 12, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Hanger.
A complaint has been filed in the United States District Court for the Western District of Texas on behalf of all persons who purchased Hanger publicly traded securities between August 1, 2013 and August 7, 2014 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, defendants misrepresented and/or concealed the impact that an increase in Medicare audits had on Hanger’s business.
On August 7, 2014, the Company’s announced that earnings per share had experienced a 23.1% decline and that Hanger anticipated lower earnings per share than originally estimated for fiscal 2014. The Company attributed the results of an increase in audits of its Medicare reimbursement claims. Hanger had also announced that it had experienced an increase in bad debt as well.
Following this news, Hanger shares declined by $7.39 per share, or nearly 25%, closing on August 8, 2014 at $22.48 per share.
If you invested in Hanger common stock or options between August 1, 2013 and August 7, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/HGR. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Hanger’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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