Class-action suit accuses Nighthawk of Exchange Act violation
The company's shareholders, who filed the suit, also alleged that the company failed to disclose:
- That it was experiencing a delay in transitioning the Radlinx Group physician contracts to Nighthawk's compensation structure, which would cause the company to pay more compensation to Radlinx physicians than previously expected;
- That demand for the company’s services was weakening;
- That the company was experiencing difficulties in obtaining reimbursement for its services; and
- As a result of the foregoing, Nighthawk lacked a reasonable basis for its positive statements about the company and its prospects.