LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of American Renal Associates Holdings, Inc. investors (“American Renal” or the “Company”) (NYSE: ARA) concerning the Company and its officers’ possible violations of federal securities laws.
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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, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
On March 8, 2019, American Renal announced the postponement of the release of its fourth quarter and year-end 2018 earnings report, as well as the filing of their 2018 Form 10-K. Previously, the SEC had requested in October 2018 that the Company provide documentation and information regarding revenue recognition, collections, and other related matters. As a result of this SEC request, American Renal formed an Audit Committee that has been examining the Company’s revenue recognition methods and accounting practices. Due to this internal investigation by the Audit Committee and the impact the information found would potentially have on these pending earning reports, the Company has delayed the filing of their 2018 Form 10-K and announced possible further adjustments for their previously reported fiscal years ranging from 2014 to 2017, as well as the still delayed fiscal report for 2018.
On this news, shares of American Renal fell $2.05 per share, or over 16%, to close at $10.46 on March 8, 2019, thereby injuring investors.
If you purchased American Renal securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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