NEW YORK, February 6, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Welltower Inc. (“Welltower” or the “Company”) (NYSE: WELL). Such investors are advised to contact Robert S. Willoughby To [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Welltower and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
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On December 7, 2022, Hindenburg Research released a report titled “Welltower: Exposing the Seashell Game”. Among other things, the report claimed that the company had transferred management of the underperforming facilities to an undisclosed related party. Additionally, according to the report, new partner company Integra “seems to barely exist. The entity was registered 6 months ago, according to Delaware company records. Its website was registered the same day. Additionally, the report alleged that “the 29-year-old CEO of Integra David Gefner, appears to have no experience in skilled nursing. Integra has no employees on LinkedIn except for Gefner, who claims to have worked at the entity 6 months for 11 months.”
At this news, Welltower’s stock price plummeted $3.20 per share, or 4.69%, to close at $65.00 per share on December 7, 2022.
The firm Pomerantz, with offices in new York, Chicago, Los AngelesAnd Paris is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 80 years later, the Pomerantz Company continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
