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04.03.2019 21:03:00

Here's Why Healthcare Services Group Is Plunging Today

After the company stated that it is delaying the filing of its annual 10-K report, shares of Healthcare Services Group (NASDAQ: HCSG), a provider of outsourced housekeeping and dining services for the healthcare industry, dropped 14% as of 2:55 p.m. EST on Monday.Management revealed today that it received a letter in November 2017 from the Securities and Exchange Commission (SEC) inquiring about how the company calculates its earnings per share. The company also received a subpoena from the agency in March of 2018 related to the matter.Management stated that it is providing the agency with all of the necessary documents that have been requested and that it has hired outside counsel to conduct an internal investigation.Continue reading
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