| Company: | Integrated Healthcare Holdings, Inc. |
| Ticker Symbol: | NASD: IHHI |
| Class Period: | March 1, 2005 to May 17, 2005 |
| Date Filed: | Sep-27-05 |
| Lead Plaintiff Deadline: | Nov-28-05 |
| Court: | District, CA |
| Allegations: |
IHHI owns approximately 12% of hospital beds in Orange County.
In March 2005, Integrated Healthcare Holdings, Inc. acquired from Tenet Healthcare Corp. four hospital facilities representing approximately 12% of the hospital beds in Orange County, California.
In a public SEC filing in February, 2005, IHHI disclosed an agreement to receive an investment of approximately $30 million from OCPIN. Pursuant to a stock purchase agreement with OCPIN, OCPIN was to deliver $10 million by early February, 2005. The remaining $20 million investment was scheduled to be paid shortly before the closing of the hospital purchase transactions with Tenet.
IHHI did not receive the $20 million portion of the cash investment on the date that it was initially due.
IHHI made a filing with the SEC in mid-March, 2005, disclosing the closing of the Tenet transaction. As of that time, IHHI still had not received the $20 million portion of the OCPIN investment.
On approximately May 16, 2005, IHHI disclosed that OCPIN, to that date, had funded only $10 million of its $30 million obligation.
Investors who bought or sold the common stock or other securities of Integrated Healthcare Holdings, Inc. (OTCBB: IHCH.OB) between March 1, 2005 and May 17, 2005, and others who have information concerning publicly-traded IHHI or its dealings, may be part of the class.
