American Renal Associates Holdings, Inc. Securities Litigation
On or around 09/03/2020 (Settlement preliminarily approval)
Filing Date: March 28, 2019
According to the Complaint, American Renal purports to operate as a dialysis services provider in the United States.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) issues with American Renal’s accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission (“SEC”) investigation into the same, and increased regulatory scrutiny by the SEC; (2) American Renal’s financial statements for the fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On July 3, 2019, the Court issued an order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on November 11.
On June 25, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on September 3.
Company & Securities Information
Defendant: American Renal Associates Holdings, Inc.
Industry: Healthcare Facilities
Headquarters: United States
Ticker Symbol: ARA
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
Ali Vandevar, et al. v. American Renal Associates Holdings, Inc., et al.
COURT: D. New Jersey
DOCKET #: 19-CV-09074
JUDGE: Hon. Esther Salas
DATE FILED: 03/28/2019
CLASS PERIOD START: 08/10/2016
CLASS PERIOD END: 03/27/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm (South Orange)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violation of the Federal Securities Laws
Order Granting Motion of the City of Hialeah Employees' Retirement System for Consolidation, Appointment of Lead Plaintiff, and Approval of Selection of Counsel
U.S. District Court Civil Docket
the City of Hialeah Employees' Retirement System, et al. v. American Renal Associates Holdings, Inc., et al.