| Company: | Gentiva Health Services, Inc |
| Ticker Symbol: | GTIV |
| Class Period: | Jul-31-08 to Jul-20-10 |
| Date Filed: | Nov-12-10 |
| Lead Plaintiff Deadline: | Jan-11-11 |
| Court: | Eastern District of New York |
| Allegations: | |
The Complaint charges Gentiva and certain of its officers and directors with violations of federal securities laws. Specifically, it is alleged that defendants reported revenue and earnings growth that were, in large part, based on material increases in Medicare revenues and admissions in the Company's Home Health segment, but that defendants failed to disclose that Gentiva improperly increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare PPS. During the Class Period, defendants sold approximately 261,828 Gentiva shares for proceeds of $6.3 million.
On May 13, 2010, the Wall Street Journal reported that the United States Senate Finance Committee launched an investigation into the practices of companies that provide in-home therapy visits reimbursed by Medicare, including Gentiva. On July 13, 2010, Gentiva disclosed that the Securities and Exchange Commission commenced a similar investigation. Finally, on July 20, 2010, Gentiva reduced its full-year revenue guidance. On July 21, 2010, Gentiva shares fell approximately 8%, to close at $19.96.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
