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Health Management Associates may have breached its fiduciary duties to current and former employees who purchased company stock for their Health Management sponsored retirement plan.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- Retirement Asset
- Investment Advisor Duties
Product or Service
- Retirement Plan
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending ERISA class action complaint against Health Management Associates on behalf of all persons who were participants in or beneficiaries of the Health Management Associates, Inc. Retirement Savings Plan between January 17, 2007 and the present and whose accounts included investments in Health Management common stock.
The class action complaint alleges that during the Class Period, Health Management breached its fiduciary duties by: failing to prudently and loyally manage the Plans' assets; failing to monitor fiduciaries; failing to provide complete and accurate information to the Class; and participating in a breach by a non-fiduciary.
The class action complaint alleges that during the Class Period, Health Management breached its fiduciary duties by: failing to prudently and loyally manage the Plans' assets; failing to monitor fiduciaries; failing to provide complete and accurate information to the Class; and participating in a breach by a non-fiduciary.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Health Management Associates, Inc. (HMA) | Health Management Associates, Inc. owns and operates hospitals primarily in the southeast and southwest areas of non-urban America. |