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BOSTON, March 27, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether American Renal Associates Holdings, Inc. (“American Renal” or the “Company”) (NYSE: ARA) and certain of its officers and directors violated federal securities laws.
On March 27, 2019, American Renal announced that the Company’s previously issued consolidated financial statements and other financial data for the fiscal years ended December 31, 2014, 2015, 2016 and 2017 contained in its Annual Reports on Form 10-K for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements for the quarters and year-to-date periods ended March 31, June 30 and September 30, 2016; March 31, June 30 and September 30, 2017; and March 31, June 30 and September 30, 2018 contained in its Quarterly Reports on Form 10-Q could no longer be relied upon and would have to be restated.
This news follows an October 2018 request by the Securities and Exchange Commission’s (“SEC”) for documents concerning American Renal’s revenue recognition practices, collections, and other related matters, and which was disclosed to shareholders on March 8, 2019.
Following the March 8, 2019 announcement, shares of American Renal fell $2.05 per share or over 16% to close at $10.46 per share on March 8, 2019. Following the March 27, 2019 announcement, shares of American Renal fell more than 18% in post-market trading.
If you have purchased or otherwise acquired American Renal securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/cases/?case=americanrenal.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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