R1 RCM Securities Class Action Lawsuit Investigation
At a glance
What is the RCM Securities Class Action Lawsuit Investigation about?
Gibbs Law Group is investigating potential claims on behalf of RCM investors.What did R1 RCM Inc. do wrong?
RCM may have violated federal securities laws by provided false or misleading statements to investors.What do you get out of this?
The RCM Securities Class Action Lawsuit Investigation seeks to help shareholders recover their losses.
Lost money in RCM stock?
You may be eligible to recover your losses. Get a free and confidential consultation.
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Why is RCM stock dropping?
On Monday, October 16, 2023, Jehoshaphat Research published a report alleging that the healthcare technology company R1 RCM Inc. (NASDAQ: RCM) has been “grossly overstat[ing]” its revenues and profits. The report claims RCM has been posting accounting “fictions,” including reported revenue growth based only on “assumptions” about “future collections,” expenses that have been artificially deflated in order to inflate the Adjusted EBITDA by around 55%, and high levels of debt.
The report also accuses RCM of “horrific corporate governance” and notes that the company has seen major leadership changes since 2022, including “departures of [its] CEO, CFO, Chief Commercial Officer and Chief Solutions Officer.” The report further alleges RCM’s Board is “conflicted” due to many seats being filled by major customers, allegedly resulting in several transactions that “just happen to benefit board members’ own companies handsomely.”
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