ManorCare, HCP Inc. sued
HCP ignored fraud and misled investors about the performance of ManorCare, its skilled nursing portfolio, according to a class action filed in May.
The suit alleges that HCP told investors that ManorCare's financial performance was “secure” and the company was compliant with regulations, despite being aware of the more than $6 billion in false claims billed by the provider at the time it made those statements.
ManorCare declined to comment on the suit. The plaintiffs seek a jury trial and compensatory damages.