Newman Ferrara LLP Announces Investigation of American Renal Associates Holdings, Inc.
July 12 2016 - 04:00PM
Business Wire
Newman Ferrara LLP has begun an investigation into whether the
officers and directors of American Renal Associates Holdings, Inc.
(“American Renal Associates”) (NYSE:ARA) breached their fiduciary
duties to the company.
According to a complaint filed in the United States District
Court in Florida’s Southern District by a health insurer, American
Renal Associates engaged in a “fraudulent and illegal scheme” to
extract higher reimbursement payments by convincing patients to
sign up for health insurance, rather than remaining on Medicare and
Medicaid, while indirectly paying premiums for those same patients.
The suit seeks unspecified damages and injunctive relief.
Newman Ferrara’s investigation concerns the extent to which
certain American Renal Associates’ officers and directors knew or
should have known of the alleged “fraudulent and illegal
scheme.”
If you hold American Renal Associates’ stock and wish to obtain
additional information about the investigation and your legal
rights and potential remedies, please contact Newman Ferrara
attorney Roger Sachar Jr. at rsachar@nfllp.com.
Newman Ferrara maintains a multifaceted practice based in New
York City with attorneys specializing in complex commercial and
multi-party litigation, securities fraud and shareholder
litigation, consumer protection, civil rights, and real estate. For
more information, please visit the firm website at
www.nfllp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160712006524/en/
Newman Ferrara LLPRoger Sachar Jr., 212-619-5400
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