Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Medical Properties Trust, Inc. (MPW)

Law Offices of Howard G. Smith reminds investors of the upcoming November 28, 2023 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Medical Properties Trust, Inc. (“MPW” or the “Company”) (NYSE: MPW) securities between May 23, 2023 and August 17, 2023, inclusive (the “Class Period”).

Investors suffering losses on their MPW investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On August 18, 2023, the Wall Street Journal (“WSJ”) reported that the Department of Managed Health Care of the Health and Human Services Agency of the State of California (“DMHC”) had issued an order to put MPW’s recapitalization transaction with Prospect Medical Holdings, Inc. (“Prospect”) on hold in order to obtain further information. The WSJ article highlighted the negative impact that halting the recapitalization transaction could have on both MPW and Prospect, especially if the deal is permanently rejected.

On this news, MPW’s stock price fell $0.57, or 7.6%, to close at $6.93 per share on August 18, 2023, thereby injuring investors.

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 Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Recap Transaction was subject to regulatory approval and had in fact been placed on hold by the DMHC; (2) accordingly, MPW had misrepresented the regulatory process for the Recap Transaction’s approval; (3) as a result of the foregoing, MPW overstated the approval prospects and benefits of the Recap Transaction; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired MPW securities during the Class Period, you may move the Court no later than November 28, 2023 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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 www.howardsmithlaw.com.

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