NEW YORK, April 16, 2019 /PRNewswire/ -- Bernstein Liebhard LLP announced today that only 6 weeks remain to make a motion for lead plaintiff in a securities class action lawsuit alleging claims on behalf of those who purchased the securities of American Renal Associates Holdings, Inc. ("American Renal" or the "Company") between August 10, 2016 and March 27, 2019, both dates inclusive (the "Class Period"). The lawsuit, filed in the United States District Court for the District of New Jersey, alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.
According to the lawsuit, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclosed that (1) American Renal had undisclosed material weaknesses in its internal controls over financial reporting as well as issues with the Company's accounting process for revenue recognition and collections; (2) consequently, American Renal's financial statements for the fiscal years 2014, 2015, 2016, and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; and, as a result, (3) American Renal's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff in the American Renal class action, you must move the court no later than May 28, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery does not require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
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 Joe Seidman toll free at (877) 779-1414 or via email at 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.
You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the District of New Jersey.
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