NEW YORK, July 11, 2018 /PRNewswire/ — Bernstein Litowitz Berger & Grossmann LLP (“BLB&G”) today announced that it filed a securities class action lawsuit on behalf of Cambridge Retirement System (“Cambridge“) against Mednax, Inc. (“Mednax” or the “Company”) (NYSE: MD), and certain of its current senior executives. The action, which is captioned Cambridge Retirement System v. Mednax, Inc., et al., No. 0:18-cv-61572-WPD (S.D. Fla.), asserts claims under the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of investors who purchased Mednax stock during the period of February 4, 2016 to July 27, 2017, inclusive (the “Class Period”).
The complaint alleges that during the Class Period, Mednax violated the Exchange Act by misleading investors regarding the sustainability of the Company’s business model. Throughout the Class Period, Mednax’s business model depended upon growth from the acquisition of new practice groups, primarily in anesthesiology. In truth, Mednax’s business model is not sustainable and its growth was based upon suppressing physician compensation and enforcing non-compete agreements to deter physician defections. When the truth regarding the sustainability of Mednax’s business model was finally revealed at the end of the Class Period, the price of the Company’s stock had declined by over 23%.
If you wish to serve as lead plaintiff for the Class, you must file a motion with the Court no later than September 10, 2018, which is the first business day on which the District Court for the Southern District of Florida is open that is 60 days after the publication date of July 11, 2018. 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 a member of the proposed class.
Cambridge is represented by BLB&G, a firm of over 100 attorneys with offices in New York, California, Louisiana, and Illinois. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Avi Josefson of BLB&G at 212-554-1493, or via e-mail at email@example.com.
Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity. Specializing in securities fraud, corporate governance, shareholders’ rights, employment discrimination, and civil rights litigation, among other practice areas, BLB&G prosecutes class and private actions on behalf of institutional and individual clients worldwide. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering billions of dollars on behalf of defrauded investors. More information about BLB&G can be found online at www.blbglaw.com.
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SOURCE Bernstein Litowitz Berger & Grossmann LLP