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Goldenberg Schneider Appointed Liaison Counsel for Proposed Stockholder Class Against Chemed

U.S. District Court Judge Michael R. Barrett of the Southern District of Ohio recently appointed Goldenberg Schneider to serve as Liaison Counsel for a proposed class of Chemed Corporation stockholders.  Goldenberg Schneider is working with Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP to prosecute a securities class action against Chemed Corporation, the parent company of VITAS Healthcare Corporation, a leading provider of end-of-life hospice care.  The complaint alleges that Chemed’s VITAS subsidiary improperly enrolled non-eligible patients into hospice care in order to fraudulently obtain payments for hospice services from the federal government, while at the same time falsely representing that it was in material compliance with Medicare and Medicaid rules and regulations.  According to the complaint, as a result of these wrongful actions, Chemed’s stock traded at an artificially inflated price until the improprieties were publically revealed by the unsealing of a whistleblower’s complaint in 2011, at which time Chemed’s stock plummeted, causing Chemed stockholders to suffer millions of dollars in losses.

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