LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC (the “Firm”) announces a class action lawsuit has been filed against American Renal Associates Holdings, Inc. (“ARA” or the “Company”) (NYSE: ARA) concerning possible violations of federal securities laws. Investors who purchased or otherwise acquired shares 1) pursuant and/or traceable to the Initial Public Offering (“IPO”) on or about April 21, 2016; and/or 2) on the open market between April 21, 2016 and August 18, 2016 (the “Class Period”), should contact the Firm in advance of the October 31, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the complaint, ARA issued false and misleading statements to investors and/or failed to disclose that: the Company was engaged in a fraudulent scheme to steer patients away from Medicare and Medicaid plans they qualified for, into more expensive Affordable Care Act plans to obtain greater reimbursement for its dialysis services; the scheme was in violation of federal and state laws; and as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. When this information was announced, ARA shares fell in value, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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