AMERICAN RENAL INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates American Renal Associates Holdings, Inc. for Possible Securities Fraud - ARA
NEW ORLEANS, March 15, 2019 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into American Renal Associates Holdings, Inc. (NYSE: ARA) on behalf of shareholders that purchased the Company's shares issued in connection with its April 2016 Initial Public Offering ("IPO").
On March 8, 2019, the Company disclosed that it will delay filing its Form 10-K annual report for the period ended December 31, 2018 and the issuance of its earnings release for the fourth quarter and full year 2018 due to an ongoing investigation by its Audit Committee into "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 ended December 31, 2014, 2015, 2016 and 2017, the fiscal quarters within those fiscal years and the first three fiscal quarters of 2018" and also "whether and how any such adjustments will affect individual quarters and years during the affected period."
On this news, the price of American Renal's shares plummeted.
KSF's investigation is focusing on whether American Renal and/or its officers and directors violated state or federal securities laws.
If you purchased American Renal shares issued in connection with its April 2016 IPO, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ara/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC