Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors that purchased Molina Healthcare, Inc.
(“Molina” or the “Company”) (NYSE: MOH)
securities between October 31, 2014 and August 2, 2017, inclusive
(the “Class Period”). Molina investors have until June 29, 2018 to
file a lead plaintiff motion.
Investors that suffered losses on their Molina investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On August 2, 2017, the Company withdrew its 2017 earnings outlook and
announced that it will eliminate 1,500 jobs, and exit certain Obamacare
markets after the health insurer posted a steep second quarter loss. On
this news Molina shares fell nearly 6%, or $3.92 per share, to close at
$62.32 per share on August 3, 2017. The Company’s shares continued to
fall the following trading day, closing down $2.52 per share, or over
4%, to close at $59.80 per share on August 4, 2017.
The complaint filed in this class action alleges that, throughout the
Class Period, Defendants made materially false and misleading statements
and/or failed to disclose that:(1) Molina’s administrative
infrastructure was never designed to handle the size and complexity of
its rapid growth strategy; and (2) it failed to remediate systemic
issues and costly disruptions with critical administrative
infrastructure functions, including provider payment and utilization
If you purchased shares of Molina during the Class Period, have
information or would like to learn more about these claims, or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888)
638-4847, or by email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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