Ontario Superior Court of Justice, Court File No: CV-16-544173CP
This securities class action relates to Nobilis Health Corp. (“Nobilis”) publishing core documents and making other statements containing misrepresentations of material fact regarding Noblis’ accounting for its acquisition of Athas and First Nobilis, as found in its FYE 2014 and Q1 and Q2 2015 financial statements, which resulted in an overstatement of goodwill and provided the investing public with a misleading view of the Company’s revenues, expenses, and general business operations.
On January 5, 2016, Nobilis issued a press release confirming that its consolidated financial statements for FYE 2015 and Q1 and Q2 2015 contained multiple errors, including in respect of the Company’s business combination accounting pertaining to the Athas and First Nobilis acquisitions, and that these erroneous financial statements required restatement and should no longer be relied upon.
The Plaintiff served his materials for leave (permission) to commence a securities claim pursuant to s. 138.8 of the Ontario Securities Act and for certification pursuant to s. 5 of the Class Proceedings Act, 1992 on February 1, 2017 with these motions scheduled to be heard on December 11-14, 2017.
Claim Issued: January 18, 2016
Class Period I: March 23, 2015 to and including October 8, 2015
Class Period II: October 9, 2015 to and including January 5, 2016
Leave to Proceed Record Served: February 1, 2017
Shareholders’ Canadian Counsel: Andrew Morganti and Eli Karp, Morganti Legal; and Jay Strosberg, Sutts Strosberg LLP
Shareholders’ U.S. Counsel: Willie C. Briscoe, The Briscoe Law Firm, PLLC; and Jeremy A. Lieberman, Pomerantz LLP
Shareholders’ Expert: Andrew Mintzer, Hemming Morse LLP
Corporate Defendants’ Canadian Counsel: Alan D’Silva, Stikeman Elliott LLP
Auditor’s Canadian Counsel: Eric Dolden, Dolden Wallace Folick LLP
Defendants’ U.S. Counsel: Justin M. Waggoner, Smyser Kaplan & Veselka, LLP
For more information about this action, or to obtain a copy of the most recent statement of claim, please contact the Firm at firstname.lastname@example.org.