SAN DIEGO, May 11, 2016 /PRNewswire/ -- Johnson & Weaver, LLP announces that that a class action complaint was filed in the United States District Court for the Northern District of Ohio on behalf of purchasers of HCP, Inc. (NYSE:HCP) securities during the period between March 30, 2015 and February 8, 2016 (the "Class Period").
If you are a HCP shareholder and fit in one of the following categories, we encourage you to contact us:
1) Shareholders buying HCP shares during the Class Period with losses exceeding $25,000.
2) All Shareholders, regardless of size, continuously holding shares before March 30, 2015. As a long term shareholder, you may have standing to hold HCP harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance.
HCP is an independent hybrid real estate investment trust. The fund invests in real estate markets of the United States.
According to the complaint, on April 21, 2015, HCP disclosed that the DOJ had intervened in whistleblower lawsuits against ManorCare. On May 5, 2015, HCP disclosed that it had recorded a $478 million impairment charge related to lease arrangements with ManorCare. Next, on February 9, 2016, HCP disclosed that it had written down its 10% equity stake in ManorCare to zero and had booked a $836 million impairment on its ManorCare lease assets. On this news, the price of HCP's stock plummeted and investors were harmed.
Plaintiff seeks to recover damages on behalf of all purchasers of HCP securities during the Class Period. If you wish to serve as lead plaintiff, you have until July 11, 2016 to file lead plaintiff applications in a securities class action lawsuit against HCP, Inc.
If you purchased HCP shares during the Class Period, or if you are a long term shareholder and wish to discuss this action, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you email, please include your phone number.
Any member of the putative 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.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP
