Philly Leader

Berger & Montague P.C issued the following announcement on April 10

Berger Montague is investigating securities fraud claims against NMC Health Plc (“NMC” or the “Company”) on behalf of all purchasers of NMC securities, including American Depositary Shares (“ADSs”) (OTC Pink: NMHLY) between March 13, 2016 and March 10, 2020 (the “Class Period”).

If you purchased NMC securities, have information, would like to discuss this investigation, or have any questions concerning your rights or interests, please contact our attorneys Benjamin Galdston, Esq. at (619) 489-0300 or Andrew Abramowitz, Esq. at (215) 875-3015, or fill out the form on this page.

According to the lawsuit, throughout the Class Period, NMC made false and/or misleading statements and/or failed to disclose that:

1. It lacked effective internal controls and risk management;
2. It engaged in undisclosed and extensive related party and de facto related party transactions;
3. Its debts were significantly understated and obfuscated;
4. Its cash-on-hand figures were overstated; and
5. It was not enforcing its Relationship Agreement with the principal shareholders and thus improper related party transactions were being conducted.

On March 10, 2020, Bloomberg published an article titled “Abu Dhabi Insurer Steps In to Help NMC Health Pay Salaries,” which reported that an insurer in Abu Dhabi was assisting the Company in paying its expenses. On this news, the price of NMC’s ADSs fell nearly 64%, or $3.28 per ADS, to close at $1.85 per ADS.

If you purchased NMC securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is May 11, 2020. You do not need to be a lead plaintiff to share in any potential Class recovery.

Whistleblowers: Persons with non-public information regarding NMC Health Plc should consider their options to help Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of successful recoveries obtained by the SEC. For more information, contact us.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.

Original source can be found here.