|Company name||American Renal Associates Holdings, Inc.|
NEW YORK, August 14, 2019 – Bragar Eagel & Squire, P.C. is investigating certain officers and directors of American Renal Associates Holdings, Inc. (NYSE: ARA)ollowing a class action complaint that was filed against American Renal Associates on March 28, 2019.
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. When the true details entered the market, the lawsuit claims that investors suffered damages.
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