Press release from Business Wire
Robbins Umeda LLP Announces Investigation of Healthcare Services Group, Inc.
Monday, May 24, 2010
SAN DIEGO (Business Wire) -- Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Healthcare Services Group, Inc. ("Healthcare Services" or the "Company") (NASDAQ: HCSG). Healthcare Services, through its subsidiaries, provides housekeeping, laundry, linen, facility maintenance, and food services to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. The Company was founded in 1977 and is based in Bensalem, Pennsylvania.
Robbins Umeda LLP's investigation concerns whether certain of Healthcare Services' directors and officers breached their fiduciary duties through the manipulation of stock-option grant dates with the goal of secretly maximizing profits from the stock-options, a practice commonly referred to as "backdating." Our investigation has revealed that certain Healthcare Services stock-option grants to officers and directors were priced at or near the lowest closing price for the month, quarter and/or year.
If you purchased your shares of Healthcare Services stock prior to December 2000, continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.
Robbins Umeda LLP is a California-based law firm, which has significant experience representing investors in shareholder derivative actions, securities fraud class actions, and merger-related shareholder class actions. For more information about the firm, please go to http://www.robbinsumeda.com.