Glancy Prongay & Murray LLP Files Securities Class Action on Behalf of Community Health Systems, Inc. Investors (CYH)

LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24CYH&src=ctag” target=”_blank”gt;$CYHlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) announces that it has filed a class
action lawsuit in the United States District Court for the Middle
District of Tennessee, captioned Padilla v. Community Health Systems,
Inc. et al., on behalf of persons and entities that purchased or
otherwise acquired Community Health Systems, Inc. (NYSE: CYH)
(“Community Health” or the “Company”) securities between February 20,
2017 and February 27, 2018, inclusive (the “Class Period”).
Plaintiff pursues claims under Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of
this notice to move the Court to serve as lead plaintiff in this
action.

If you are a shareholder who suffered a loss, click here
to participate.

On February 27, 2018, the Company announced that its fourth quarter 2017
net operating revenues totaled $3.059 billion and were adversely
impacted by a $591 million increase in contractual allowances and
provision for bad debts. On this news, the Company’s share price fell
$1.06 per share, more than 17%, to close at $5.12 per share on February
28, 2018, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that the Company had
understated its contractual allowances; (2) that the Company had
understated its provision for bad debts; (3) that, as a result, the
Company had overstated its net operating revenue; (4) that, as a result,
the Company had understated its net loss; and (5) that, as a result of
the foregoing, Defendants’ positive statements about the Company’s
business, operations, and prospects were materially misleading and/or
lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased Community Health securities during the Class Period,
you may move the Court no later than 60 days from the date of this
notice to ask the Court to appoint you as lead plaintiff. To be a
member of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067, at 310-201-9150, Toll-Free at 888-773-9224, by email
to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number, and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com