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Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Gentiva Health Services, Inc. to Inquire About the Lead Plaintiff Position in Securities ...

Fri, 11/19/2010 - 10:45am
The Associated Press

Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of purchasers of the common stock of Gentiva Health Services, Inc. ("Gentiva" or the "Company") (NASDAQ: GTIV) during the period between July 31, 2008 and July 20, 2010, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than January 7, 2011 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company improperly manipulated the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare prospective payment system. According to the complaint, after the Wall Street Journal reported a government investigation into the practices of companies that provide in-home therapy visits reimbursed by Medicare and whether those companies deliberately boosted the number of home therapy visits to trigger Medicare reimbursements, the value of Gentiva stock declined significantly.

If you have suffered a net loss for all transactions in Gentiva Health Services, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com (http://www.browerpiven.com) , by email at hoffman@browerpiven.com (mailto:hoffman@browerpiven.com) , by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 50 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

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