Morgan Stanley Comments On Community Health Systems' OIG Subpoena

According to Morgan Stanley, Community Health Systems

disclosed OIG Subpoena on Friday. Morgan Stanley reported that Community Health Systems it expects shares to be weak again (could well take another 10+% hit) on Monday, after CYH disclosed after the market closed Friday 4/15/11 that it already received an OIG subpoena back on 4/8/11. “We had expected the regulatory scrutiny to ramp, but investors may be frustrated by the fact that the subpoena was not disclosed with CYH's release on 4/12 which said "Tenet's allegations are completely without merit and we intend to vigorously defend ourselves against these unfounded and irresponsible claims".” Community Health Systems closed yesterday at $31.90.