NEW YORK, Nov. 22, 2016 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers Alere Inc. securities (NYSE: ALR) from February 29, 2012 through November 4, 2016, both dates inclusive (the "Class Period") of the important January 13, 2017 lead plaintiff deadline in the class action filed by the firm. The lawsuit seeks to recover damages for Alere investors under the federal securities laws.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Alere's wholly-owned subsidiary, Arriva Medical, LLC ("Arriva"), was submitting claims to Medicare for deceased patients; (2) the foregoing conduct subjected Arriva to revocation of its Medicare enrollment; and (3) as a result, defendants' statements about Alere's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. On November 4, 2016, Alere revealed that Arriva's Medicare enrollment will be revoked by Centers for Medicare & Medicaid Services ("CMS") based on CMS' assertion that Arriva had allegedly submitted claims for 211 deceased patients over a five year period. On this news, shares of Alere fell $6.13 per share or over 14.5% from its previous closing price to close at $36.10 per share on November 4, 2016. Attorney Advertising. Prior results do not guarantee a similar outcome.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 13, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-982.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].