NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), is investigating claims on behalf of investors of Medical Properties Trust, Inc. (NYSE: MPW).
The investigation concerns whether Medical Properties and certain of its officers and/or directors have engaged in fraud, negligence or other unlawful business practices.
On February 23, 2023, pre-market, the Company announced its financial and operating results for the fourth quarter and full-year ended December 31, 2022, disclosing an impairment charge of $171 million as well as a $112 million write-off of unbilled rent. On this news, the price of Medical Properties’ shares fell 8.7%, or $1.06, from a closing price on February 22, 2023 of $12.20 per share to a close on February 23 of $11.14 per share.
Two securities class action lawsuits have been filed against the Company and certain officers, the first on behalf of investors that purchased or otherwise acquired MPT securities between March 1, 2022 and February 22, 2023, inclusive (the “Class Period”), and the second with a class period beginning July 15, 2019.
Medical Properties investors are advised to contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-mpw/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 12, 2023.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
