LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing
In American Renal Associates Holdings, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in American Renal Associates Holdings, Inc.
("American Renal" or the "Company")(NYSE:ARA) of the May 28, 2019 deadline to seek the role of lead plaintiff in a federal
securities class action that has been filed against the Company.
If you invested in American Renal stock or options between August 10, 2016 and March 27, 2019 and would like to discuss
your legal rights, click here:
www.faruqilaw.com/ARA. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased
American Renal securities between August 10, 2016 and March 27, 2019 (the "Class Period"). The case, Vandevar v. American Renal
Associates Holdings, Inc., No. 19-cv-09074 was filed on March 28, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1)
issues with American Renal’s accounting process for revenue recognition, collections, and related matters would give rise to an SEC
investigation into the same, and increased regulatory scrutiny by the SEC; (2) 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; (3) American
Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, American Renal’s public
statements were materially false and misleading at all relevant times.
On November 9, 2018, American Renal filed a Form 10-Q with the SEC in which the Company disclosed that in October 2018, SEC
staff "requested that the Company voluntarily provide documents and information relating to certain revenue recognition,
collections and related matters."
On this news, American Renal's share price fell from $17.50 per share on November 9, 2018 to a closing price of $16.76 on
November 12, 2018: a $0.74 or a 4.23% drop.
On March 8, 2019, before the market opened, American Renal filed a Form NT 10- K with the SEC, announcing it would delay the
filing of its earnings report for the fiscal year ended December 31, 2018 as it continues to examine reserve computations and other
accounting practices that may have an impact on the company’s accounts receivable and revenue for 2018, as well as previously
reported fiscal years ranging from 2014 through 2017.
On this news, American Renal's share price fell from $12.51 per share on March 7, 2019 to a closing price of $10.46 on March 8,
2019: a $2.05 or a 16.39% drop.
Then, on March 27, 2019, after market hours, American Renal announced the resignation of its CFO, and that American Renal would
restate its financial results for the fiscal years ended 2014 through 2017.
On this news, American Renal's share price fell from $9.70 per share on March 27, 2019 to a closing price of $6.01 on March 28,
2019: a $3.69 or a 38.04% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding American Renal's conduct to contact the firm,
including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to
discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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