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IN RE PHYCOR SHAREHOLDER LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: IRPSL182512, CourtName: MISC 2, State: TN Tennessee, UniqueCaseRef: LCD>IRPSL182512, Phycor, Shares, Operating, Physicians, Misleading, Clinics, Securities, Assets, Phycor Stock, Charge, Carewise, Acquisitions, Earnings, Eps, Proxy-prospectus, Management, Accounting, Agreements, Restructuring, Shares Outstanding, Intangible Assets, Chief Executive Officer, Connection, Representing, Vice President, Future Business Prospects, Pre-tax Charge, Amortization , ContentID: 120252037

Case Documents
1 1997-04-22 Government Exhibit # 1ST AMENDED CONSOLIDATED COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 126648
76 pages
PDF
Total Documents: 1 document , 76 pages
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1 . Government Exhibit # 1ST AMENDED CONSOLIDATED COMPLAINT

EXTRACTED KEY WORDS
DEFENDANTS
SHARES
OPERATING
PHYSICIANS
MISLEADING
CLINICS
SECURITIES
ASSETS
PHYCOR STOCK
CHARGE
CAREWISE
ACQUISITIONS
EARNINGS
EPS
PROXY-PROSPECTUS
PLAINTIFF
MANAGEMENT
ACCOUNTING
AGREEMENTS
RESTRUCTURING
SHARES OUTSTANDING
INTANGIBLE ASSETS
CHIEF EXECUTIVE OFFICER
CONNECTION
REPRESENTING
VICE PRESIDENT
FUTURE BUSINESS PROSPECTS
PRE-TAX CHARGE
AMORTIZATION
     IN THE COURT OF THE CHANCERY FOR THE STATE OF TENNESSEE

              TWENTIETH JUDICIAL DISTRICT, DAVIDSON COUNTY

__________________________________ )
_                                            ) Case No. 98-2719-III
                                             ) CLASS ACTION
In re PHYCOR SHAREHOLDER                     ) CHANCELLOR LYLE
LITIGATION                                   )) FIRST AMENDED CONSOLIDATED
__________________________________ ) CLASS ACTION COMPLAINT FOR
_                                            ) VIOLATIONS OF TENN. CODE
                                             ) ANN. §§48-2-121 AND 48-2-
This Document Relates To:                    ) 122 AND §§11, 12(a)(2) AND
                                               15 OF THE SECURITIES ACT
     ALL ACTIONS.                              OF 1933
__________________________________
_


     1.      This is a securities fraud class action on behalf of all

persons who purchased or otherwise obligated themselves to purchase

the publicly traded equity and debt securities of PhyCor, Inc.

("PhyCor"      or    the    "Company")    between    April     22,    1997    and

September 22, 1998, inclusive (the "Class Period"), including those

who acquired CareWise shares pursuant and traceable to the Proxy-

Prospectus (the "CareWise Subclass"). Plaintiffs allege violations

of Tennessee and federal law arising from defendants' issuance of

false financial statements and other false and misleading

statements about the Company's operating performance.

                            JURISDICTION AND VENUE

     2.       The claims asserted arise under Tenn. Code Ann. §§48-2-

121 and 48-2-122, and §§11, 12(a)(2) and 15 of the Securities Act

of 1933.       This Court has jurisdiction over the first cause of

action asserted in this Complaint pursuant to Tenn. Code Ann. §§48-

SNIPPETS:
  • the publicly traded equity and debt securities of PhyCor,
  • who acquired CareWise shares pursuant and traceable to the Proxy-Prospectus.
  • statements about the Company's operating performance.
  • Each of the individual defendants is a citizen of
  • misleading statements made by defendants in and from this County.
  • Plaintiff James W. Bryant purchased 500 shares of
  • PhyCor stock on January 15, 1998, at $19-5/8 per share, and was
  • medical clinics and independent physician practices.
  • PhyCor acquires the operating assets of physician practices and
  • 31, 1997, PhyCor operated 55 clinics with 3,800 physicians in 28
  • management and Board of Directors' meetings or committees thereof,
  • Vice President, Chief Development Officer and a director of PhyCor.
  • other information provided to him in connection therewith.
  • its finances and present and future business prospects via access
  • revenue and earnings per share growth claimed by
  • needed acquisitions on PhyCor's EPS.
  • Joseph C. Hutts, president and chief executive officer of PhyCor, said, "Our first quarter
  • Net earnings for the quarter totaled $12.3 million, or $0.19 per share on 65.1 million
  • * PhyCor had the management expertise and experience as well as the management information
  • PhyCor (i.e., management-service agreements) over 40 years, despite
  • registration to adopt 25-year amortization schedules;
  • 12, 1998--PhyCor, Inc. announced today that it anticipates recording, in the first quarter of
  • Company expects to incur approximately $22 million in the first quarter of 1998 in pre-tax
  • As announced in January, PhyCor expects to record, in the first quarter of 1998, a pre-tax
  • * PhyCor might prospectively begin utilizing a 25-year amortization schedule for intangible
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