Bronstein, Gewirtz & Grossman, LLC Investigates DaVita, Inc.
October 04 2011 - 8:00AM
Business Wire
Bronstein, Gewirtz & Grossman, LLC is investigating
potential claims on behalf of purchasers of the securities of
DaVita, Inc. (“DaVita” or the “Company”) (NYSE: DVA), concerning
whether the company and certain of its officers and directors have
violated federal securities laws.
DaVita disclosed in August a grand jury criminal probe by the
U.S. Attorney in Denver. The Company said the Colorado
investigation appears to overlap with two other ongoing federal
investigations into its business. DaVita is charged with
overbilling the Medicare system and overusing the drug Epogen, used
to boost red blood cells for those with kidney disease. The
allegations against DaVita have been publicized for some time, but
Citigroup analyst Gary Taylor notes that recent rulings could start
to pose significant legal risks. Under the False Claims Act – used
in the past against defense contractors that have overbilled the
Pentagon—any damages the company is ordered to pay could be
automatically tripled. The Denver Post reports that the grand jury
is also looking into allegations that the Company entered into
improper relationships with pharmaceutical companies and
physicians. The stock has traded between $59.61 and $89.76 in the
last year and since DaVita reported its second quarter results on
August 3, 2011, the stock is down almost 20 percent.
If you are aware of any facts relating to this investigation, or
purchased shares of DaVita, you can assist this investigation by
contacting either Peretz Bronstein or Eitan Kimelman of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
eitan@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general
corporate work, private securities offerings, and securities
arbitration.
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