NEW YORK, Aug. 10, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities American Renal Associates Holdings, Inc. ("American Renal Associates" or the "Company") (NYSE: ARA). Such investors are advised to contact Peretz Bronstein or his investor relations analyst, Yael Hurwitz at [email protected] or 212-697-6484.
The investigation concerns whether American Renal Associates and certain of its officers and/or directors have breached its fiduciary duties to shareholders and engaged in Health Insurance Fraud.
According to the complaint, American Renal Associates engaged in a "fraudulent and illegal scheme" to obtain higher reimbursement payments by convincing patients to sign up for health insurance plans with UnitedHealthcare of Florida, Inc. UnitedHealthcare of Ohio, Inc. and All Savers Insurance Company (collectively, "United") for dialysis services given for patients suffering from end-stage renal disease. American Renal Associates purposely targeted Medicaid- and Medicare-eligible patients to persuade them to switch from their affordable government insurance plan to join United's plans in order to boost its own profits when billing. Medicare and Medicaid pay American Renal Associates roughly $300 per dialysis session, while American Renal Associates does not have a contracted rate for United's plans, and has allegedly billed United up to twenty times the Medicaid and Medicare rate. United has thus overpaid millions of dollars to American Renal Associates as part of its unprincipled billing scheme.
If you purchased American Renal Associates shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/ara. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC