NEW YORK, March 15, 2019 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of American Renal Associates Holdings, Inc. ("American Renal" or the "Company") (NYSE: ARA) resulting from allegations that American Renal and/or its executives may have issued materially misleading business information to the investing public.
If you purchased American Renal securities, and/or would like to discuss your legal rights and options, please visit American Renal Shareholder Investigation or contact Daniel Sadeh toll free at (877) 779-1414 or firstname.lastname@example.org.
On March 8, 2019, American Renal disclosed, among other things, that its "Audit Committee is examining reserve computations and other accounting practices that could have an impact on accounts receivable and revenue for the fiscal year ended December 31, 2018, as well as the previously reported fiscal years ended December 31, 2014, 2015, 2016 and 2017, the fiscal quarters within those fiscal years and the first three fiscal quarters of 2018." In October 2018, the Staff of the Securities and Exchange Commission ("SEC") requested that American Renal voluntarily provide documents and information relating to certain revenue recognition, collections and related matters. As a result of the SEC's request, the Company's Audit Committee began an examination of the Company's revenue recognition methodology and related accounting matters, such as internal control over financial reporting related to revenue recognition and related matters.
On this news, shares of American Renal fell $2.05 per share, or over 16%, to close at $10.46 per share on March 8, 2019, damaging investors.
If you purchased American Renal securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/american-renal-associates-holdings-inc-ara-lawsuit-class-action-fraud-stock-117/ or contact Daniel Sadeh toll free at (877) 779-1414 or email@example.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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