LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Alere Inc. (“Alere” or the “Company”) (NYSE: ALR) securities between February 29, 2012 and November 4, 2016, inclusive (the “Class Period”). Alere investors have until January 13, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Alere investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
According to the complaint filed in this lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Alere’s wholly-owned subsidiary, Arriva Medical, LLC (“Arriva”), was submitting claims to Medicare for deceased patients; (2) the foregoing conduct subjected Arriva to revocation of its Medicare enrollment; and (3) as a result, defendants’ statements about Alere’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 4, 2016, Alere disclosed that Arriva’s Medicare enrollment will be revoked for allegedly submitting claims for 211 deceased patients over a five year period. On this news, shares of Alere over 14% to close at just $36.10 per share on November 4, 2016.
If you purchased shares of Alere during the Class Period you may move the Court no later than January 13, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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