Logo of the Ehpad group formerly called Orpea
A collective of more than 200 investors in the Orpea nursing home group, now called Emeis, announced Thursday its intention to sue the company's former board of directors in a class action.
Orpea had to face accusations of serious failings in the care of the elderly and financial embezzlement, following the publication in 2022 of an investigative book by independent journalist Victor Castanet, “Les Fossoyeurs”.
“Together, the investors are seeking compensation for losses suffered in an unprecedented class action against the company’s former board of directors and auditors,” they said in a statement.
The collective, which indicates that it has already brought together 230 complainant investors, wants to obtain compensation after the losses suffered due to the collapse of Orpea's stock on the stock market and the company's placement in safeguard procedure.
Investors have until January 10 to contact the Orpea Investors Collective, which intends to file the official summons with the Paris commercial court before January 25, the statute of limitations date for the alleged facts.
Contacted by Reuters, Emeis said he could not comment on this action, stressing that it was, to the group's knowledge, “at the draft stage and has not been introduced”.
The fall in the Orpea share price observed between 2022 and 2023 reflects the “indispensable” financial restructuring of the group carried out during this period, adds Emeis.
(Written by Kate Entringer, with Augustin Turpin, edited by Blandine Hénault)
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