HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Medical Properties Trust (MPW) Investors with Substantial Losses to Contact Firm’s Attorneys, Securities Fraud Class Action Pending
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May 26, 2023, 1:00 PM ET
SAN FRANCISCO, CA / ACCESSWIRE / May 26, 2023 / Hagens Berman urges Medical Properties Trust, Inc. (NYSE:MPW) investors who suffered substantial losses submit your losses now.
Class Period: July 15, 2019- Feb. 22, 2023
Lead Plaintiff Deadline: June 12, 2023
Contact An Attorney Now: MPW@hbsslaw.com
Medical Properties Trust, Inc. (MPW) Securities Fraud Class Action:
According to the complaint, Defendants made false and misleading statements and failed to disclose that Medical Properties: (1) masked the distressed state of its tenants through sale-leaseback arrangements that were essentially round-robin transactions in that they allowed debt-saddled tenants to meet their obligations in the short term; (2) fraudulently transferred hundreds of millions of dollars in what amounted to a bailout of financially distressed tenants; and (3) concealed its fraudulent transfers with fake construction projects with purportedly high capital expenses, despite the fact that the company entered into "triple-net leases" that obligated its tenants to pay a significant portion of expenses.
Investors began to learn the truth on Jan. 26, 2023, when Viceroy Research published a scathing report accusing Medical Properties of "engaging in billions of dollars of uncommercial transactions with its tenants and their management teams in order to mask a pervasive revenue round-robin scheme and/or theft."
Then, on Feb. 2, 2023, Viceroy sent and published its letter to Medical Properties' auditor highlighting Viceroy's concerns about severely distressed tenants and round-tripped revenues, uncollectible accrued revenues and impaired asset values.
Finally, on Feb. 23, 2023, the company announced Q4 and full-year 2022 financial results that included a whopping $171 million impairment charge relating to four properties leased to Prospect and a write-off of $112 million on unbilled Prospect rent.
These revelations drove the price of Medical Properties shares sharply lower.
"We're focused on investors' losses and proving Medical Properties cooked its books," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Medical Properties and have substantial losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Medical Properties should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email MPW@hbsslaw.com.
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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
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