An investigation for investors in NYSE:ARA shares over potential securities laws violations by American Renal Associates Holdings Inc and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of American Renal Associates Holdings Inc (NYSE:ARA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of American Renal Associates Holdings Inc (NYSE:ARA) concerning whether a series of statements by American Renal Associates Holdings Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
According to a complaint filed in the US District Court in Florida’s Southern District by a health insurer, American Renal Associates Holdings Inc engaged in a “fraudulent and illegal scheme” to extract higher reimbursement payments by convincing patients to sign up for health insurance, rather than remaining on Medicare and Medicaid, while indirectly paying premiums for those same patients. The suit seeks unspecified damages and injunctive relief.
American Renal Associates Holdings Inc reported that its annual Total Revenue rose from $495.93 million in 2013 to $652.98 million in 2015 and that its Net Loss of $20.45 million in 2103 turned into a Net Income of $18.84 million in 2015. American Renal Associates Holdings Inc went public in April 2016. Shares of American Renal Associates Holdings Inc (NYSE:ARA) grew from $27.06 per share in May 2016 to as high as $29.21 per share in June 2016. On July 1, 2016 it was reported that UnitedHealth Group Inc. sued American Renal Associates Holdings Inc. accusing it of fraud.
On July 25, 2016, NYSE:ARA shares closed at $22.70 per share.
Those who purchased NYSE:ARA shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com