Shareholder rights law firm Robbins LLP announces that it is investigating NMC Health Plc (OTC: NMHLY) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. NMC provides healthcare services in the United Arab Emirates, the United Kingdom, Spain, and internationally.
If you suffered a loss as a result of NMC's misconduct, click here.
NMC Health Plc (NMHLY) Mislead Shareholders?
On December 17, 2019, Muddy Waters Capital LLC published a report revealing that NMC had failed to disclose: (i) its lack of internal controls; (ii) (de facto) related party transactions; (iii) its true debt burden; (iv) its true cash-on-hand and asset values; and (v) its use of reverse factoring. Then, on March 10, 2020, Financial Times and Bloomberg published articles entitled "NMC Health Discovers Almost $3 billion of Debt Hidden from is Board" and "Abu Dhabi Insurer Steps In to Help NMC Health Pay Salaries," respectively. As a result of all of these disclosures, NMC Health currently trades at around $0.85, representing a staggering 98% decline from its class period high of $53.03.
NMC Health Plc (NMHLY) Shareholders Have Legal Options
Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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