Cases
Alere, Inc. (NYSE : ALR)
Securities Class Action
Overview
Overview
- Date:
- 11/16/2016
- Company Name:
- Alere, Inc.
- Stock Symbol:
- ALR
- Class Period:
- FROM 2/29/2012 TO 11/4/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern Florida
NEW YORK, November 16, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Florida Southern District Court on behalf of all persons or entities who acquired the Alere, Inc. (NYS: ALR) securities between February 29, 2012 to November 4, 2016 (the “Class Period”).
The complaint alleges that Alere made false and misleading statements and/or failed to disclose: (1) that the Company’s wholly-owned subsidiary, Arriva Medical, LLC , was submitting claims to Medicare for deceased patients; (2) that this conduct subjected Arriva to revocation of its Medicare enrollment; and (3) that as a result of the above, Alere’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
On November 4, 2016, Alere disclosed that the Centers for Medicare and Medicaid Services alleged that Arriva submitted claims for 211 deceased patients over a five-year period, and thus revoked Arriva’s Medicare enrollment. Following this new, shares of Alere fell from a close of $42.23 on November 3, 2016, to a close of $36.10 per share.
If you acquired Alere securities during the Class Period, 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 Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that Alere made false and misleading statements and/or failed to disclose: (1) that the Company’s wholly-owned subsidiary, Arriva Medical, LLC , was submitting claims to Medicare for deceased patients; (2) that this conduct subjected Arriva to revocation of its Medicare enrollment; and (3) that as a result of the above, Alere’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
On November 4, 2016, Alere disclosed that the Centers for Medicare and Medicaid Services alleged that Arriva submitted claims for 211 deceased patients over a five-year period, and thus revoked Arriva’s Medicare enrollment. Following this new, shares of Alere fell from a close of $42.23 on November 3, 2016, to a close of $36.10 per share.
If you acquired Alere securities during the Class Period, 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 Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.