The U.S. Justice Department announced late Thursday that it is suing Chemed Corp. (CHE) and its hospice subsidiaries. The government is accusing the company of being involved in the submission of false claims for crisis care services that proved to be unnecessary, were never actually provided or failed to meet Medicare requirements.
Chemed has gapped open dramatically lower Friday and is now down 16.29 at $65.50 on above average volume. The stock has dropped to a 5 1/2 month low.
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