GlobeNewswire Inc | Aug 20, 2020 12:57PM EDT

August 20, 2020

Investors with losses are encouraged to contact the firm, click here to submit trade information

LOS ANGELES, Aug. 20, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Brookdale Senior Living Inc. ("Brookdale" or the "Company") (NYSE: BKD) investors that acquired shares between August 10, 2016 and April 29, 2020. Investors have until August 24, 2020 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

On April 30, 2020, Nashville Business Journal reported that a proposed class action lawsuit had been filed against Brookdale, accusing the Company of, among other things, purposeful chronically insufficient staffing at its facilities in an effort to meet financial benchmarks since at least April 24, 2016. According to the lawsuit, the Company misinformed both residents and their families in promising to provide daily living services and basic care. The lawsuit also claims that the proposed class of plaintiffs have not received the care and services they paid for.

On this news, the Companys share price fell $0.56 per share, or over 15%, over two trading sessions, to close at $3.12 per share on May 1, 2020.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Brookdales financial performance was sustained by, among other things, the Companys purposeful understaffing of its senior living communities; (2) that the foregoing conduct subjected Brookdale to an increased risk of litigation and, once revealed, was foreseeably likely to have a material negative impact on the Companys financial results and reputation; (3) as a result, the Companys financial results were unsustainable; and (4) as a result, the Companys public statements were materially false and misleading at all relevant times.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firms founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.Admitted CA and NY Barlesley@portnoylaw.com310-692-8883www.portnoylaw.com

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