AdaptHealth’s McGee placed on leave
By HME News Staff
Updated 10:23 AM CDT, Wed April 14, 2021
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PLYMOUTH MEETING, Pa. – Luke McGee has been placed on unpaid leave from his roles as co-CEO and director of AdaptHealth after authorities in Denmark formally charged him with alleged tax fraud.
The alleged fraud stems from personal activity that occurred between March 2014 and August 2015, and has no connection to AdaptHealth’s business, according to a statement from the company’s board of directors.
“The board of directors of AdaptHealth takes this matter very seriously and is monitoring the situation closely in consultation with its legal advisors,” the board said in a statement. “The board has full confidence in the company’s management team, led by current Co-CEO Steve Griggs and President Josh Parnes, and in its ability to ensure that AdaptHealth’s business remains strong and to maintain the company’s growth trajectory.”
A number of law firms are now investigating potential securities fraud claims on behalf of shareholders, alleging that AdaptHealth might have issued misleading information to the investing public.
The company’s shares plunged 16.7% in morning trading on Tuesday following the news.
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