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LOS ANGELES, March 13, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of American Renal Associates Holdings, Inc. (“American Renal” or “the Company”) (NYSE: ARA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. American Renal announced on March 8, 2019, that it was delaying the filing of its earnings report for the fiscal year ending December 31, 2018. The delay was caused by the Company’s need to further examine the impact on its accounts receivable and revenue for 2018 of accounting practices including reserve computations. This examination will also include previous year’s financial reporting from 2014 to 2017. This process follows an SEC letter from October 2018 requesting documentation of the Company’s revenue recognition and other related matters. Based on this news, shares of American Renal fell 16% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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