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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against HCA Holdings, Inc.

^{Published on 2011-10-31 16:46:27 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of HCA Holdings, Inc. (aHCAa or the aCompanya) (NYSE:HCA) who purchased shares pursuant or traceable to the Companyas Registration Statement and Prospectus issued in connection with its March 9, 2011 initial public offering (the aIPOa), seeking to pursue remedies under the Securities Act of 1933. The class action lawsuit was filed in the United States District Court for the Middle District of Tennessee.

HCA owns, manages or operates hospitals, freestanding surgery centers, diagnostic and imaging centers, radiation and oncology therapy centers, rehabilitation and physical therapy centers, and various other facilities in the United States. The Complaint alleges violations of federal securities laws against HCA, certain of its officers and directors and the underwriters of its IPO. Specifically, the Complaint alleges that the Registration Statement and Prospectus failed to disclose that: (a) the Company improperly accounted for its prior business combinations in violation of Generally Accepted Accounting Principles, causing its financial results to be materially misstated; (b) the Company had failed to maintain effective internal controls concerning its accounting for business combinations; and (c), the Company failed to disclose known trends and uncertainties, as required by SEC regulations, concerning its revenue growth rate.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased HCA common stock pursuant or traceable to the Companyas March 9, 2011 initial public offering, you have certain rights, and have 60 days from October 28, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice 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 ].