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Medical Properties Trust, Inc. Securities Fraud Class Action

If you are a member of the proposed Class, you may move the court no later than June 12, 2023 to serve as a lead plaintiff for the proposed Class. You need not seek to become a lead plaintiff to share in any possible recovery.

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About the Lawsuit

Berger Montague filed a class action lawsuit on behalf of investors who purchased securities of Medical Properties Trust, Inc. (“Medical Properties” or the “Company”) (NYSE: MPW) from July 15, 2019 through and including February 22, 2023 (the “Class Period”). The action, captioned Fiyyaz Pirani, Trustee of Imperium Irrevocable Trust v. Medical Properties Trust, Inc., et al., Case No. 2:23-cv-486 (the “Pirani Action”) was filed in the United States District Court for the Northern District of Alabama.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

The complaint in the Pirani Action alleges that Medical Properties and certain members of senior management of the Company (collectively “Defendants”) violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission.

The complaint alleges that on February 23, 2023, before the market opened, Medical Properties issued a press release announcing its financial and operating results for the fourth quarter and full-year ended December 31, 2022, and disclosed an impairment charge of $171 million related to the Pennsylvania Properties, as well as a $112 million write-off of unbilled rent to Prospect.

Also on February 23, 2023, the Company announced that Emmett E. McLean, Medical Properties’ Executive Vice President, Chief Operating Officer, and Secretary, was stepping down, effective September 1, 2023. McLean had been with the Company for more than 20 years.

Following this news, the price of Medical Properties shares fell 8.7%, or $1.06, from a closing price on February 22, 2023 of $12.20 per share to a close on February 23 of $11.14 per share. By March 1, 2023, the Company’s stock had fallen 17.5%, closing at $10.07 per share – a loss of market capitalization of in excess of $1.25 billion.