Kaskela Law LLC Announces Investigation of American Renal Associates Holdings, Inc. on Behalf of Investors – ARA
NEWTOWN SQUARE, Pa., March 27, 2019 (GLOBE NEWSWIRE) --
Kaskela Law LLC is investigating American Renal Associates Holdings, Inc. (NYSE: ARA) (“American Renal” or the “Company”) on behalf of the Company’s investors. The investigation seeks to determine whether American Renal and certain its executive officers violated the federal securities laws, and whether the Company’s investors have been harmed as a result.
American Renal investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or online at http://kaskelalaw.com/case/american-renal/, to discuss this investigation and their legal rights and options, or to submit their information to the firm for review.
On March 8, 2019, American Renal disclosed that it was delaying the filing of its fiscal 2019 Annual Report, and that the Company’s Audit Committee was “examining reserve computations and other accounting practices that could have an impact on accounts receivable and revenue for the fiscal year ended December 31, 2018, as well as the previously reported fiscal years….” Following this news, shares of the Company’s stock declined $2.05 per share, or over 16% in value, to close on March 8, 2019 at $10.46 per share, on heavy trading volume.
Then on March 27, 2019, American Renal disclosed that the Company’s previously issued financial statements for fiscal years 2014 – 2017 “should be restated and should no longer be relied upon,” and that the Company’s Chief Financial Officer had “resigned” effective March 26, 2019. Following this additional news, shares of the Company’s stock further declined in value.
American Renal investors are encouraged to contact Kaskela Law LLC to discuss their legal rights and options with respect to this matter. Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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