Venable partner G. Stewart Webb Jr. has entered an appearance for Medical Properties Trust, a real estate investment trust that invests in healthcare facilities, and the company's top officials in a pending shareholder derivative lawsuit. The case, which centers on Medical's acquisition of 14 hospitals and two health facilities for a purchase price of $1.55 billion, was filed on July 26 in Maryland District Court by Robbins LLP and Brown Goldstein & Levy on behalf of Joseph Crognaleon. The suit accuses the defendants of failing to disclose that many of the acquired tenants were in poor financial condition and weren't likely to pay rent.The case, assigned to U.S. District Judge Stephanie A. Gallagher, is 1:24-cv-02173, Crognale v. Aldag, Jr. et al.
Health Care
September 11, 2024, 11:09 AM