Shareholders Foundation, Inc.

Laboratory Corp. of America Holdings (NYSE:LH) Investor Alert: Investigation over Wrongdoing Allegations

An investigation for investors in NYSE:LH shares of potential breaches of fiduciary duties by certain directors and officer of Laboratory Corp. of America Holdings was announced and current NYSE:LH stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (ReleaseWire) -- 04/16/2012 -- Certain officers and directors at Laboratory Corp. of America are under investigation over potential wrongdoing in connection with certain Medicaid billing practices.

Investors who are purchased Laboratory Corp. of America Holdings (NYSE:LH shares and currently hold (any of) those NYSE:LH shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Laboratory Corp. of America Holdings (NYSE:LH) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements over Laboratory Corp. of America Holdings’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Since 2007 Laboratory Corp. of America Holdings received several subpoenas related to Medicaid billing. Laboratory Corp. of America Holdings received a subpoena from the United States Department of Health & Human Services Office of Inspector General's regional office in New York, from the Commonwealth of Virginia Office of the Attorney General, from the State of Michigan Department of Attorney General, from the United States Department of Health & Human Services Office of Inspector General's regional office in Massachusetts, and from the State of Florida Office of the Attorney General. In August 2011, the Southern District of New York unsealed a False Claims Act lawsuit, which alleges that Laboratory Corp. of America Holdings offered UnitedHealthcare Insurance Company kickbacks in the form of discounts in return for Medicare business.In November 2011, Laboratory Corp. of America Holdings received a letter from United States Senators Baucus and Grassley requesting information regarding the Company's relationships with its largest managed care customers. According to recent media report Laboratory Corp. of America Holdings is the only company out of five companies has not yet responded to the requests from the U.S. Senators.

NYSE:LH shares dropped from $94 per share on April 3, 2012 to $88.52 per share on April 13, 2012

Those who purchased shares of Laboratory Corp. of America Holdings (NYSE:LH), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com