NEW YORK, Sept. 26, 2016 /PRNewswire/ -- Wolf Popper LLP,
on September 2, 2016, filed a
securities fraud lawsuit in U.S. District Court for the District of
Massachusetts on behalf of
investors in American Renal Associates Holdings, Inc. (NYSE: ARA)
during the period April 20, 2016
through August 18, 2016. Esposito
v. American Renal Associates Holdings, Inc., et al. (Index No.
16-11797). The securities fraud lawsuit charges
that during the Class Period, ARA, in order to obtain higher
reimbursement rates, conspired to convince Medicare and
Medicaid-eligible patients to enroll in private health insurance
plans by referring them to an industry-funded not-for-profit, which
would pay for their premiums.
A recently amended complaint against American Renal,
UnitedHealth Group, Inc. adds additional support to Wolf Popper's securities fraud
allegations. The UnitedHealth amended complaint confirms
Wolf Popper's allegations that four
months prior to the company's April
2016 initial public offering American Renal "developed a
scheme whereby it could quickly increase revenues and profits" by
convincing its patients "to abandon their primary Medicaid coverage
and enroll into commercial plans offered by United."
If you are a member of the Class, you may file a motion in the
District of Massachusetts no later
than October 31, 2016 to be appointed
lead plaintiff. A lead plaintiff is a representative party
acting on behalf of other class members in directing the
litigation. Investors who purchased American Renal securities
during the Class Period and suffered losses are urged to contact
Wolf Popper to discuss their
rights.
Wolf Popper has successfully
recovered billions of dollars for defrauded investors. The
firm's reputation and expertise have been repeatedly recognized by
the courts, which have appointed the firm to major positions in
securities litigation. See www.wolfpopper.com.
Attorney Advertising: Prior Results Do Not Guarantee A Similar
Outcome.
For more information, please contact:
Robert C. Finkel,
Esq.
Tel.: 877.370.7703
Fax: 877.370.7704
Email: irrep@wolfpopper.com
website: www.wolfpopper.com
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SOURCE Wolf Popper LLP