News and Results : SKV Defeats Shareholder Class Action News and Results : SKV Defeats Shareholder Class Action

SKV defeats Shareholder class action

SKV Defeats Shareholder Class Action

SKV Partners Craig Smyser and Ty Doyle, along with counsel Michelle Stratton, scored a quick and decisive win for client Nobilis Healthcare. On December 8, less than six weeks after Plaintiff filed a securities class action Complaint against Nobilis in the U.S. District Court for the Southern District of Texas, Plaintiff dismissed his case against Nobilis with prejudice to refiling it.

Based on a short-seller's blog posted on the Seeking Alpha website, the Complaint, filed on October 21, made a number of general and vague allegations against the Company and copied verbatim several accusations made in the Seeking Alpha Blog.  The Company vigorously responded to the Complaint, filing a Motion to Dismiss on November 9 even before Nobilis had been served.  Faced with this aggressive response, Plaintiff on November 18 moved the Court to extend Plaintiff's time to respond to the Motion to Dismiss, a tactic Nobilis opposed.  On December 1, the Court denied the Motion for Extension of Time to Respond and required Plaintiff to file a response to the Motion to Dismiss by December 9.  Instead, on December 8, Plaintiff filed a Notice of Voluntary Dismissal with Prejudice dismissing the Complaint.