LOS ANGELES (Legal Newsline) — A stockholder is suing a health care company and its officers, alleging violation of federal law.
Nicholas Pennington filed a class action lawsuit, individually and on behalf of all others similarly situated, Oct. 7 in U.S. District Court for the Central District of California against Tenet Healthcare Corporation, CEO Trevor Fetter, former chief financial officer Daniel J. Cancelmi and current financial officer Biggs C. Porter, alleging they made false and misleading statements regarding the company's fiscal year.
According to the complaint, Pennington suffered financial damages from purchasing securities at artificially inflated prices between February 2012 and October 2016. The plaintiff alleges the defendants made false and misleading statements in order to artificially inflate the prices of the company's securities.
Pennington seeks trial by jury, pay damages, interest, court costs and any further relief the court grants. He is represented by attorney Laurence M. Rosen of The Rosen Law Firm, PA in Los Angeles.