Ardent Health (ARDT) Investor Alert: Hagens Berman Investigating Accounting Estimate Change and $97M Reserve Issue Driving 33% Plunge

Lead Partner Reed Kathrein: Scrutiny Focuses on Extent of Leadership Awareness Regarding Chronic Payor Denials and Collectability Issues

SAN FRANCISCO, Dec. 2, 2025 /PRNewswire/ -- Prominent shareholder rights law firm Hagens Berman has opened an investigation into potential securities law violations by Ardent Health, Inc. (NYSE: ARDT) following the company's recent Q3 2025 financial disclosures. The disclosures revealed significant adverse accounting adjustments totaling $97 million that sent the stock tumbling over 33%.

The investigation is focused on whether Ardent's leadership was aware of, but failed to disclose, material weaknesses in internal controls related to revenue recognition and liability reserves, particularly given the magnitude of the adjustments.

"The sheer size of the $43 million revenue reduction and the $54 million reserve increase raises questions as to whether these were long-standing issues that should have been proactively disclosed to investors," said Reed Kathrein, the Hagens Berman partner leading the investigation. "We are scrutinizing the extent to which company leadership was aware of the apparent problems with the revenue accounting system and the chronic issue of payor denials. Investors who suffered significant losses should contact the firm now."

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Legal Analysis: The Accounting & Reserves Issue

Hagens Berman's investigation is focused on whether Ardent Health's management failed to disclose, or actively misrepresented, the true state of its internal controls regarding financial reporting. The key legal focus areas are:

The adverse disclosures on Nov. 12, 2025, concerning the $97 million combined adjustment—coupled with the significant reduction in 2025 adjusted EBITDA guidance—seemingly diverge from the company's previously reported financial health.

Next Steps: Contact Hagens Berman Today

Hagens Berman has a proven track record of securing over $325 billion in settlements for investors and consumers.

The firm is actively advising investors who purchased ARDT shares and suffered significant losses due to the undisclosed $43 million revenue issue and $54 million reserve increase.

TO SUBMIT YOUR ARDENT HEALTH (ARDT) STOCK LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

• Submit your losses now.
• Contact: Reed Kathrein at [email protected] or 844-916-0895

If you'd like more information and answers to frequently asked questions about the Ardent Health investigation, read more »

Whistleblowers: Persons with non-public information regarding Ardent Health 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 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

SOURCE Hagens Berman Sobol Shapiro LLP