Hynes Keller & Hernandez, LLC is investigating potential claims against the Board of Directors of Stericycle, Inc. (“Stericycle” or the “Company”) (NASDAQ:SRCL) concerning possible breaches of fiduciary duty and other violations of law.
On January 7, 2013, a 2008 qui tam action was unsealed, containing allegations that Stericycle has systematically been overbilling the government by levying a standard 18% rate increase every nine months, as well as other unauthorized fees and surcharges. The action alleges that those charges were not related to increased costs to the company as described in the waste management contracts. Fourteen states have joined the action, and New York has settled its claims for $2.4 million and strict guidelines on rate increases.
On March 8, 2013, a veterinary clinic filed a class action on behalf of Stericycle’s private customers, alleging breach of contract and unjust enrichment claims, as well as violations of state deceptive business practice statutes.
Shareholders interested in seeking to recover damages on behalf of Stericycle and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
If you hold SRCL shares and you would like to discuss your legal rights, please email the firm at firstname.lastname@example.org. You can also contact us by calling Ligaya T. Hernandez at (610) 994-0292 or by sending an e-mail to email@example.com.