Milberg Weiss Announces Investigation Relating to Health Management Associates, Inc. Retirement Savings Plan
Market Wire, August, 2007
Attorney Advertising. The law firm of Milberg Weiss LLP ("Milberg Weiss") announced today that it is investigating possible illegal conduct relating to 401(k) plan at Health Management Associates ("HMA") (NYSE: HMA). Specifically, Milberg Weiss is investigating whether certain fiduciaries of the Health Management Associates, Inc. Retirement Savings Plan ("401(k) Plan") may have violated the Employee Retirement Income Security Act of 1974 ("ERISA") in at least two ways: (1) by allowing employee participants to invest in HMA common stock when it was not prudent to do so, and (2) by failing to disclose that HMA was experiencing a deterioration in the collectibility of its accounts receivable from uninsured patients and that HMA's top officers had allegedly engaged in a scheme in order to create the impression that the Company had its "bad debt expenses" under control in order borrow additional money and get the board to approve of their recapitalization plan.
If you have an individual account of HMA's retirement plans and your account holds HMA common stock, Milberg Weiss is willing to consult with you about a possible lawsuit at no cost or obligation.
Milberg Weiss has extensive experience in protecting the rights of shareholders of public companies, including those shareholders who hold their stock in 401(k) accounts and the beneficiaries of those accounts. Milberg Weiss currently represents 401(k) plan participants and beneficiaries in a number of class action cases throughout the country.
Milberg Weiss LLP has been representing individual and institutional investors for nearly 40 years and serves as lead counsel in federal and state courts throughout the United States. Please visit the Milberg Weiss website ( http://www.milbergweiss.com ) for more information about the firm. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact the following attorneys:
Lori G. Feldman, Esq. Milberg Weiss LLP One Pennsylvania Plaza, 49th fl. New York, NY 10119-0165 Phone number: (800) 320-5081 Email: contactus@milbergweiss.com Website: http://www.milbergweiss.com Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
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