The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Medical Properties Trust, Inc. (MPW) Investors

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Medical Properties Trust, Inc. (“MPT” or the “Company”) (NYSE: MPW) securities between March 1, 2022 and February 22, 2023, inclusive (the “Class Period”). MPT investors have until June 12, 2023 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On February 23, 2023, before the market opened, MPT issued a press release announcing its fourth quarter and full year 2022 financial results. Therein, MPT disclosed an impairment of about $171 million on four properties leased to Prospect as well as a write off of about $112 million in unbilled rent for the same client.

On this news, the Company’s stock price fell $0.80, or 8.7%, to close at $11.14 per share on February 23, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Prospect was facing significant pressures affecting the profitability of its Pennsylvania properties; (2) that, as a result, there was a significant risk that Prospect would be unable to meet its rental obligations owed to MPT; (3) that, “given the elongated timing of the Pennsylvania recovery,” the Company was reasonably likely to record an impairment charge to the real estate value of the Pennsylvania properties; (4) and that as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased MPT securities during the Class Period, you may move the Court no later than June 12, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased MPT securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Medical Properties Trust, Inc. (MPW) Investors