Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, February 10, 2011
Wed, February 9, 2011 Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of National Health Investors, Inc.
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against National Health Investors, Inc. (aNHIa or the aCompanya) (NYSE:NHI) concerning possible breaches of fiduciary duties by the Company or its fiduciaries. NHI is a real estate investment trust (REIT), which invests in health care properties, primarily in the long-term care industry in the United States.
The investigation concerns allegations that certain of the Companya™s executive officers and/or directors engaged in an illicit multi-year scheme against Care Foundation of America, Inc. (aCare Foundationa) to, among other things, use Care Foundationa™s non-profit status for NHIa™s own use and benefit. The alleged conduct resulted in Care Foundation filing a lawsuit against NHI in conjunction with Care Foundationa™s bankruptcy filing, and an investigation and intervention in the bankruptcy proceeding on Care Foundationa™s behalf by the Tennessee State Attorney General. In December 2009, NHI entered into a settlement of the lawsuit, which Care Foundation brought to recoup millions of dollars it alleged NHI had wrongfully obtained by selling six nursing homes to Care Foundation in 1999 for more than the nursing homes were worth and extracting above-market interest payments and other payments from Care Foundation.
If you purchased NHI securities and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].
