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BOSTON, — Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether American Renal Associates Holdings, Inc. (“American Renal” or the “Company”) (NYSE: ARA) and certain of its officers and directors violated federal securities laws.
On March 8, 2019, American Renal announced it would delay the filing of its earnings report for the fiscal year ended December 31, 2018 as it continues to examine reserve computations and other accounting practices that may have an impact on the company’s accounts receivable and revenue for fiscal year 2018, as well as previously reported fiscal years ranging from 2014 through 2017.
This news follows an October 2018 request by the Securities and Exchange Commission’s (“SEC”) for documents concerning American Renal’s revenue recognition practices, collections, and other related matters.
Following the March 8, 2019 announcement, shares of American Renal fell $2.05 per share or over 16% to close at $10.46 per share on March 8, 2019.
If you have purchased or otherwise acquired American Renal securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at [email protected], or by visiting http://shareholder.law/cases/?case=americanrenal.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation’s largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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