| [February 15, 2012] |
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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Health Management Associates, Inc.
WILMINGTON, Del. --(Business Wire)--
Rigrodsky
& Long, P.A. announces that a class action lawsuit has been
filed in the United States District Court for the Middle District of
Florida on behalf of purchasers the common stock of Health Management
Associates, Inc. ("Health Management" or the "Company") (NYSE: HMA)
between July 27, 2009 and January 9, 2012, inclusive (the "Class
Period"), alleging violations of the Securities Exchange Act of 1934
(the "Complaint") against the Company and certain of its officers and/or
directors.
If you wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact Timothy
J. MacFall, Esquire or Scott
J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 at (888) 969-4242, by
e-mail to info@rigrodskylong.com,
or at: http://www.rigrodskylong.com/investigations/health-management-associates-inc-hma.
Health Management is in the business of operating acute care hospitals
and other health care facilities in non-urban areas, primarily in the
southeast and southwest areas of the United States. The Complaint
alleges that during the Class Period, Health Management and certain of
the Company's directors and/or officers made materially false and
misleading statements concerning its financial performance and growth,
its increase in hospital admission rates, and its compliance with all
applicable laws. Specifically, it is alleged that investors began to
learn the truth on August 3, 2011, when it was disclosed that the United
States Department of Health and Human Services, Office of Inspector
General, had issued a subpoena requesting "information on our physician
referrals as well as ownership and management at our whole-hospital
physician joint ventures, among other items." Then, on January 9, 2012,
an analyst disclosed that Health Management's former compliance officer,
Paul Meyer, had filed a lawsuit against the Company for violation of
Florida's Private Sector Whistleblower's Act. The Complaint alleges that
Meyer's lawsuit claims he was unlawfully terminated after uncovering
serious Medicare fraud at several Health Management facilities.
As a result of the January 9, 2012 disclosure, the price of Health
Management's common stock dropped $0.53 per share, or more than 7%, on
heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later
than March 26, 2012. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and that
the class member will adequately represent the class. Your ability to
share in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. Any member of the proposed class
may move the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class member.
While Rigrodsky
& Long, P.A. did not file the Complaint in this matter, the
firm, with offices in Wilmington, Delaware and Garden City, New York, regularly
litigates securities class, derivative and direct actions, shareholder
rights litigation and corporate governance litigation, including
claims for breach of fiduciary duty and proxy violations in the Delaware
Court of Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar outcome.

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