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LOS ANGELES, — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of American Renal Associates Holdings, Inc. (“American Renal” or “the Company”) (NYSE: ARA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. American Renal announced on March 8, 2019, that it was delaying the filing of its earnings report for the fiscal year ending December 31, 2018. The delay was caused by the Company’s need to further examine the impact on its accounts receivable and revenue for 2018 of accounting practices including reserve computations. This examination will also include previous year’s financial reporting from 2014 to 2017. This process follows an SEC letter from October 2018 requesting documentation of the Company’s revenue recognition and other related matters. Based on this news, shares of American Renal fell 16% on the same day.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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