Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in American Renal Associates Holdings (NYSE:ARA) in connection to alleged violations of securities laws by ARA. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in American Renal Associates Holdings between August 10, 2016, and March 27, 2019.
The class action complaint specifically alleges that during the period in question, ARA provided false and/or misleading material information and/or failed to disclose adverse material information to the public, chiefly: the company was experiencing certain issues involving its accounting process that would lead to scrutiny from the Securities and Exchange Commission; that there were untrue financial statements in concerning FY2014, FY2015, FY2016, and FY2018 in the company’s annual reports for the years ending December 31, 2016 and 2017; that there were also untrue statements in the company’s quarterly reports for 2016, 2017, and 2018; that there were weaknesses in the company’s internal controls governing its financial reports; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true details emerged, investors suffered losses.
According to the company’s website, American Renal Associates Holdings is a medical company that provides dialysis services. Its description states that it offers “high quality patient care to patients suffering from the most advanced stage of chronic kidney disease, known as End Stage Renal Disease,” also known as ESRD. The company operates more than 200 clinics in 26 states, as well as Washington, DC, and states that it serves roughly 16,000 patients with ESRD. The company is headquartered in Beverly, Massachusetts and trades on the New York Stock Exchange under the symbol ARA.
A class action lawsuit has already been filed in connection with American Renal Associates Holdings. If you wish to serve as lead plaintiff in the ARA lawsuit, you must move the Court no later than May 28, 2019. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.