American Renal Associates Holdings, Inc. (NYSE: ARA)
Hagens Berman Sobol Shapiro LLP reminds investors in American Renal Associates Holdings, Inc. (NYSE: ARA) of the May 28, 2019 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the District of New Jersey.
If you purchased or otherwise acquired securities of ARA between August 10, 2016 and March 27, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing ARA@hbsslaw.com.
According to the complaint, throughout the class period Defendants misled investors about American Renal’s accounting for revenues, collections and related matters.
Then, on March 27, 2019, Defendants announced investors should not rely on the Company’s previously issued consolidated financial statements for the fiscal years ended December 31, 2014, 2015, 2016 and 2017 or on several interim quarterly period financial statements. Defendants also announced the Company’s CFO resigned effective March 26, 2019.
In response to the March 27 and earlier partial disclosures, the price of American Renal shares has significantly fallen.
“We’re focused on investors’ losses, the admitted improper revenue accounting that might have been intentional, and the extent to which investors may have been misled,” said Hagens Berman partner Reed Kathrein.
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