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DaVita Inc.

Case Summary

DaVita Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 01/12/2018 (Ongoing date of last review)

Filing Date: February 01, 2017

According to the law firm press release, DaVita provides kidney dialysis services for patients suffering from chronic kidney failure or end-stage renal disease. The Company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers, and provides acute inpatient dialysis services in approximately 900 hospitals and related laboratory services in the United States. DaVita made contributions to a purported charitable foundation called the American Kidney Fund ("AKF"), a group that provides financial assistance toward patients' health insurance premiums.

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Specifically, the Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company and its senior executives purposefully steered patients into unnecessary insurance plans in order to maximize profits; (2) the Company was using AKF as a vehicle to facilitate these improper practices; (3) as a result, DaVita's revenues and profits were illegally obtained; (4) in turn, DaVita lacked effective internal controls over financial reporting; and (5) as a result of the foregoing, Defendants' statements about DaVita's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On November 6, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on January 12, 2018.

Company & Securities Information

Defendant: DaVita Inc.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DVA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Peace Officers' Annuity and Benefit Fund of Georgia, et al. v. DaVita Inc., et al.

COURT: D. Colorado
DOCKET #: 17-CV-00304
JUDGE: Hon. Craig B. Shaffer
DATE FILED: 02/01/2017
CLASS PERIOD START: 08/05/2015
CLASS PERIOD END: 10/21/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
  2. The Shuman Law Firm (former Denver)
    885 Arapahoe Avenue, The Shuman Law Firm (former Denver), CO 80302
    303.861.3003 303.861.3003 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of the Federal Securities Laws and Jury Trial Demand 02/01/2017
2 U.S. District Court Civil Docket 08/03/2017
3 Order Appointing Lead Plaintiff and Approving Selection of Lead Counsel 11/06/2017

Reference Complaint

Peace Officers' Annuity and Benefit Fund of Georgia, et al. v. DaVita Inc., et al.

COURT: D. Colorado
DOCKET #: 17-CV-00304
JUDGE: Hon. Craig B. Shaffer
DATE FILED: 01/12/2018
CLASS PERIOD START: 02/26/2015
CLASS PERIOD END: 10/06/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
  2. The Shuman Law Firm (Denver)
    600 17th Street Suite 2800 South , The Shuman Law Firm (Denver), CO 80202
    303-861-3003 303-536-7849 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of the Federal Securities Laws and Jury Trial Demand 01/12/2018
2 U.S. District Court Civil Docket 01/12/2018
 
 

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