Premier, Inc. (PINC)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Premier, Inc. (PINC)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Premier, Inc.(“Premier” or the Company”) (NYSE: PINC).
The investigation concerns whether Premier and certain of its officers and/or directors have violated federal securities laws.
On September 25, 2019, Spruce Point Capital Management, LLC (“Spruce Point”) issued a report about Premier. The Spruce Point report asserted that “due to a unique pre-IPO restructuring agreement, [Premier] is temporarily generating twice the earnings which its business model can sustain organically.” Noting that the five- or seven-year contracts between Premier and its “member owner” hospitals were nearing expiration, the Spruce Point further asserted that “with most member owner equity now having vested, hospitals with expiring contracts are far less incented to remain with Premier at sub-market shareback rates” and were likely to opt out rather than renew their contracts, which “would cause Premier to underperform FY22-23 consensus revenue by >26% and EBITDA by >50%.” On this news, Premier’s stock price fell sharply during intraday trading on September 25, 2019.
If you are aware of any facts relating to this investigation, or purchased Premier shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.