ARA - Hagens Berman Alerts American Renal Associates Holdings Inc. (ARA) Investors of Investigation of Admitted Improper Accounting and Financial Restatements
SAN FRANCISCO, March 28, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in American Renal Associates Holdings, Inc. (NYSE: ARA) of the firm's investigation of possible violations of the Federal securities laws. If you purchased or otherwise acquired American Renal securities before March 28, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information about the investigation click
https://www.hbsslaw.com/cases/ARA
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On March 8, 2019, American Renal and senior management announced they would not timely file the Company's annual report for the fiscal year ended December 31, 2018.
On March 27, 2019, they announced investors should not rely on the Company's previously issued consolidated financial statements for the fiscal years ended December 31, 2014, 2015, 2016 and 2017 or on several interim quarterly period financial statements.
Among other things, American Renal and senior management announced they overstated revenue and would restate the Company's financial statements.
In addition, the Company's Chief Financial Officer (Jason Boucher) abruptly resigned effective March 26, 2019.
Since March 7, 2019, the price of American Renal shares has fallen as much as $6.69, or down over 50%.
"We're focused on investors' losses, the admitted improper revenue accounting that might have been intentional, and the extent to which investors may have been misled," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding ARA should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email mailto:ARA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 78 attorneys in 9 offices across the country. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP