GARDEN CITY, N.Y.--(BUSINESS WIRE)--JFJN Law (the “firm) announces the filing of a class action lawsuit against DaVita Inc. (“DaVita” or the “Company”) (NYSE:DVA). Investors who purchased or otherwise acquired shares between August 5, 2015 and October 21, 2016 inclusive (the “Class Period”) are encouraged to contact the Firm in advance of the April 3, 2017 lead plaintiff motion deadline.
If you purchased shares of DaVita during the Class Period, please contact Justin Frankel, Esq., of JFJN Law, 1-888-459-0507 or firstname.lastname@example.org before April 3, 2017.
There has not been a class certification of this case yet. Until certification occurs, you are not represented by an attorney. You may take no action and remain a passive class member.
DaVita provides kidney dialysis services for patients suffering from chronic kidney failure or end-stage renal disease (“ESRD”). The Company made contributions to the American Kidney Fund (“AKF”) a not for profit organization that offers financial assistance for kidney dialysis patients.
On August 18, 2016, The Centers for Medicare & Medicaid Services (“CMS”) issued a public request for information regarding alleged steering of Medicare and Medicaid beneficiaries into other plans in order to earn higher reimbursement rates. In reaction to the disclosure about the CMS inquiry into the industry and the potential rule changes, DaVita’s stock price dropped.
DaVita’s stock dropped further following an article in The St. Louis Post (October 23, 2016) that accused DaVita of steering clients to private insurers and using its own money to pay for health insurance premiums through the American Kidney Foundation.
On January 6, 2017 The Wall Street Journal reported that DaVita had received subpoenas from federal prosecutors for “the production of information related to charitable premium assistance” regarding the company’s relationship with the American Kidney Fund. The value of DaVita stock fell when this information became public, causing investors harm.
Throughout the Class Period, Defendants made false and/or misleading statements, and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects.
If you have any questions about this notice, or wish to learn more about this class action lawsuit, contact Justin Frankel, Esq., by phone at 1-888-459-0507 or by email email@example.com before April 3, 2017.
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